MCX's total income up 30 pc to Rs 111 crore in Q1 FY20

Mumbai (Maharashtra) [India], July 17 (ANI): Multi Commodity Exchange of India Ltd (MCX) has reported total income of Rs 110.84 crore in the first quarter of the current financial year, up 30 per cent from Rs 85.43 crore in the corresponding quarter ended June 30, 2018.
The earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 58 per cent to Rs 59.09 crore from Rs 37.47 crore in the same period while net profit increased by 496 per cent to Rs 43.70 crore from Rs 7.33 crore.
The EBITDA margin stood at 53 per cent and profit after tax margin at 39 per cent, MCX said in a statement.
The EBITDA increased by 4 per cent to Rs 59.09 crore from Rs 56.84 crore as compared to the quarter ended March 31 this year while total income stood at Rs 110.84 crore, marking an increase of 0.39 per cent.
MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem. Various commodities across segments are traded on the exchange platform, including bullion, energy, metals and agro commodities.
The average daily turnover increased by 12.8 per cent to Rs 27,473 crore in Q1 FY20 from Rs 24,360 crore in the corresponding quarter of the previous year.
This month, the turnover in MCX Gold (all variants) made a daily high of Rs 18,191 crore and open interest also recorded a high of 30.8 tonnes.
Cotton witnessed a record high turnover of Rs 792.67 crore on May 14 and the open interest averaged 5.08 lakh bales during Q1 FY20.
MCX has successfully converted all its base metal futures contracts into compulsory delivery contracts. Until now, 3,288 tonnes of aluminium, 1,370 tonnes of zinc and 85.5 tonnes of nickel have been delivered through the exchange mechanism.
The copper July 2019 contract has been the last base metal contract to be converted into a compulsory delivery contract. (ANI)