MCX Released Q4 FY24 Results: Growth of ~33.11% in Operations Revenue

On April 23, 2024, India’s largest Exchange in the Commodity Derivatives Market segment, The Multi Commodity Exchange of India Ltd. (MCX), released its unaudited financial results for the Q4 and year ended March 31, 2024.

Quarterly Performance

• During Q4 FY2024, MCX recorded a 29.66% increase in total income to ₹199.45 crore on a YoY basis. On a QoQ basis, the company’s total income dropped by 4.69% to ₹199.45 crore from ₹209.26 crore in Q3 FY2024.
• During the quarter, operating income fell by 5.42% to ₹181.14 crore from ₹191.53 crore during the sequential quarter and grew by 35.43% to ₹181.14 crore from ₹133.75 crore over the similar quarter last year.
• The quarter’s net profit was ₹87.87 crore, down from ₹5.35 crore in the same quarter of last year and ₹5.35 crore during the subsequent quarter that concluded on December 31, 2023.

Yearly Performance

• MCX’s revenue climbed by ₹177.77 crore to ₹758.94 crore during FY2024, up 30.59% Year over Year.
• EBITDA decreased by 35.73% to ₹139.70 crore for the fiscal year from ₹217.35 crore the year before. Payments made to technology vendors and contributions made to the Settlement Guarantee Fund (SGF) were the primary causes of the decline in EBITDA.

Operational Highlights

• The ADT of futures and options increased by 89.3% to ₹1,08,880 crore for the year ended March 31, 2024, from ₹57,512 crore the year before.
• The total number of traded clients for options and futures increased by 50% to 9.32 lakh from 6.22 lakh the previous year.
• The notional ADT of options increased to ₹89,244 crore in FY23–24 from ₹33,998 crore in FY22–23, a 162% increase.
• Within the precious metals segment, the Exchange mechanism was used to supply about 7.4 tonnes of gold and 472.8 tonnes of silver during the fiscal year. Yet, 94,036 tonnes of metal were delivered in base metals overall, up from 83,747 tonnes the previous year.

About Multi Commodity Exchange of India

The Multi Commodity Exchange of India Limited operates as a commodity derivatives exchange that facilitates online trading of commodity derivatives transactions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.