MCX Q3 Results: Net loss at ₹5.3 crore, revenue up 33% YoY; 5 key highlights

The leading commodity derivate exchange’s revenue from operations in the December quarter rose 33 per cent to ₹191.5 crore, compared to ₹143.6 crore in the same period last year. On Friday, shares of MCX settled 1.27 per cent lower at ₹3,830.70 apiece on the BSE.

‘’The total traded clients in derivatives on the exchange saw a growth of 50.8 per cent, reaching around 7.53 lakh during FY23-24 over the corresponding period last year,” said MCX in a regulatory filing to the stock exchanges.

Also Read: MCX Q2 results: Net loss at ₹19 crore, revenue rises 30%

Here are 5 key highlights of MCX Q3 scorecard:

1.Operating Performance

On the operating front, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) loss in the December quarter stood at ₹19.8 crore, compared to EBITDA of Rs. 44.14 crore in the corresponding period last year mainly on account of payment made to technology vendor and contribution to SGF, said MCX in its exchange filing.

For the quarter ended December 31, 2023, the total income of MCX stood at Rs.209.26 crore compared to Rs. 163.65 crore during the corresponding period in the previous year.

2.Sequential numbers

MCX’s total income increased by 13.72 per cent to Rs. 209.26 crore from Rs. 184.02 crore over the sequential quarter ended September 30, 2023. EBITDA for the December quarter increased by 79.88 per cent to Rs. 1.97 crore from ₹9.79 crore over the sequential quarter ended September 30, 2023. EBITDA margin was 0.94 per cent mainly on account of payment made to technology vendor and contribution to SGF.

3.Biz updates

The ADT of futures increased by 10.8 per cent to Rs. 20,796 crore during Q3 FY23-24 from Rs. 18,763 crore in the previous quarter, Q2 FY23-24. Options, on the other hand, made significant growth as its ADT increased to Rs. 95,989 crores compared to Rs. 85,873 crore in Q2 FY23-24. The average premium turnover also increased to Rs. 1,935 crore from Rs. 1,580 crore in Q2 FY23-24.

4.Costs

The employee cost stood at ₹29 crore in the quarter-under-review, compared to ₹23 crore in the year-ago period. During the December quarter, the number of total traded clients stood at 4.77 lakh, witnessing a growth rate of 7.4 per cent over the previous quarter. 

During Q3 FY23-24, 1.5 MT and 27.6 MT of gold (all variants) and silver (all variants) respectively were delivered through the exchange mechanism. In base metals, a total of 27,804 MT of base metals were delivered.

5.Nine-month ended December 31, 2023

For the nine months ended FY23-24, the ADT of futures and options increased by 85.9 per cent reaching Rs. 1,01,508 crore, compared to the turnover in the same period the previous year. The ADT of commodity futures experienced a decline of 16.9 per cent during FY23-24, dropping to Rs. 20,321 crore from Rs. 24,469 crore in the year-ago period. 

During 9M FY23-24, 5.6 MT and 230.2 MT of gold (all variants) and silver (all variants) respectively were delivered through the exchange mechanism. In base metals, a total of 64,820.5 MT of base metals were delivered.

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Published: 10 Feb 2024, 08:03 PM IST