Shares of MCX India surged nearly 8 percent on Wednesday after the company reported a near 500 percent growth in net profit at Rs 43.70 crore in the first quarter as against Rs 7.33 crore for the corresponding quarter a year ago.
The stock rose as much as 7.8 percent to Rs 879.70 per share on the BSE. At 10:35 AM, the stock was trading 7.7 percent higher at Rs 876.25 as against 0.33 percent (128 points) rise in the BSE Sensex at 39,259.
The company's total income increased 30 percent to Rs 110.84 crore in Q1 from Rs 85.43 crore YoY. EBITDA rose 58 percent to Rs 59.09 crore from Rs 37.47 crore YoY and EBIDTA margin stood at 53 percent.
"The average daily turnover (ADT) on the exchange has increased by 12.8 percent to Rs 27,473 crore in Q1 FY2019-20 from Rs 24,360 crore in the corresponding quarter of Q1 FY2018-19," it said in a statement.
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, it added.
Cotton witnessed a record high turnover of Rs 792.67 crore on May 14, 2019, and the open interest averaged 5.08 lakh bales during the Q1 FY20.
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