MCX’s Q4 net profit rises by 56%

Mumbai: Commodity bourse Multi Commodity Exchange of India (MCX) on Saturday reported a rise of 56.39 per cent in its net profit during the fourth quarter (Q4) of 2017-18.

MCX, in a statement, said: “Net profit stood at Rs 34.14 crore compared to Rs 21.83 crore on corresponding quarter ended March 31, 2017, registering a growth of 56.39 per cent.”

The total income of the bourse during the period under review increased to Rs 96.58 crore, up 11 per cent from Rs 86.99 crore earned for the corresponding quarter of 2016-17.

“Our performance during the last quarter of FY18 has been strong with buoyancy across commodity segments,” said Mrugank Paranjape, MD and CEO, MCX.

However, for the year ended March 31, 2018, the exchange reported that its net profit fell by 14.41 per cent to Rs 108.36 crore from Rs 126.60 crore reported for the previous fiscal.

“The Board of Directors have recommended a dividend at the rate of 170 per cent (i.e. Rs 17 per share) for approval of equity shareholders in the forthcoming Annual General Meeting,” the statement added.