MCX profit jumps two-fold, Stock trade lower

Leading commodity bourse Multi Commodity Exchange of India Ltd (MCX) on Tuesday posted over double spike in consolidated net profit to Rs 41.99 cr during Q3 ended 31-Dec 2018, led by strong revenue.

Net profit stood at stood at Rs 18.77 cr in the same quarter of the last fiscal, while net income increased on a consolidated basis to Rs109.10 cr from Rs76.52 crore, year-on-year. In the future segment, the average daily turn-over on the MCX advanced 31.56% to Rs 26614 cr during the Q32018-19 on year-on-year basis, MCX said in a filing. 

In spite of reporting double-fold growth net profit, on Wednesday during first afternoon hours of trade, MCX Ltd share price trade lower at Rs 748.05, down Rs. 15.10 or 1.98%, from its previous close of Rs 763.15 on the NSE. The scrip touched a high and low of Rs 773.25 and Rs 746.25 respectively.

Meantime key benchmarks trade with higher volatility with Sensex sinking at 36383-marks up by 64 points and Nifty at 10908-level up by 21 points.