MCX is up 30% in the second quarter of fiscal year 23-24.

The Multi Commodity Exchange of India Ltd (MCX), India’s largest Exchange in the Commodity Derivatives Market segment, has released unaudited financial statements for the second quarter and half-year ended September 30, 2023.

Q2, FY23-24 According to the operational and financial highlights and takeaways, MCX‘s total income climbed by 10.72% to Rs. 184.02 crore for the quarter ended September 30, 2023, up from Rs. 166.21 crore for the sequential quarter ended June 30, 2023. While operational income climbed by 13.27% to Rs. 165.11 crore in Q1 FY23-24 from Rs. 145.77 crore in the previous quarter.

EBITDA fell 131% to Rs. (9.79) crore in the quarter ended September 30, 2023, from Rs. 31.13 crore in the previous quarter ended June 30, 2023. The EBITDA margin was (5.32%) and the PAT margin was (10.36%) for the quarter ended September 30, 2023, owing to payments to technology vendors.

Net profit for the quarter ended September 30, 2023 fell 197% to Rs. (19.07) crore from Rs. 19.66 crore in the previous quarter ended June 30, 2023.

In terms of operations, the average daily turnover of futures decreased by 12.4% to Rs. 18,763 crore in Q2 FY23-24 from Rs. 21,413 crore in the preceding quarter, Q1 FY23-24. Options, on the other hand, had tremendous growth, with ADT increasing to Rs. 85,873 crore from Rs. 61,928 crore in Q1 FY23-24. The average premium turnover increased to Rs. 1580 crore in Q1 FY23-24 from Rs. 1,216 crore.

The overall number of traded clients reached 4.45 lakh during the quarter, representing a 13.1% increase over the previous quarter. During the second quarter of FY23-24, a total of 17,321 MT of base metals were delivered via the exchange mechanism. During the same quarter, 2.31 MT of Gold (all varieties) and 130 MT of Silver (all variants) were supplied in Bullion.

During H1 FY23-24, the Exchange mechanism delivered 4.06 and 202.6 MT of gold (all variations) and silver (all variants), respectively.

In terms of base metals, a total of 37,016.5 MT were provided. “This migration marks a significant milestone and a new beginning in our quest to develop India’s commodity derivatives market eco-system, driven by technology, in alignment with the Exchange’s strategic vision,” stated Mr. P S Reddy, MD and CEO of MCX.

As we move forward, our passion and commitment to strengthening infrastructure and fostering industry innovation will solidify our position as India’s foremost commodity exchange.”

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