MCX Q4 Results: Total Income up by 29.66%, PAT Up 1512%

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Synopsis:

 After consecutive quarterly losses, Multi Commodity Exchange of India Limited (MCX) achieved a significant turnaround, posting a net profit (PAT) of ₹87.87 crore in the 4th, that is the January-March, quarter of FY24. This impressive result highlights MCX's resilience and adaptability amidst market challenges. With renewed profitability, MCX is poised to regain momentum and reinforce its position as a leading player in the commodities market.

DATA Points:

  1. Operating Revenue: ₹181.14 Crore - Up by 35%
  2. Total Revenue:  ₹199.45 Crore - Up by 30%
  3. EBITDA:  ₹120.33 Crore - Up by 443%
  4. PAT:  ₹87.87 Crore - Up by 1512%

Introduction

As the largest commodity derivatives exchange in India, Multi Commodity Exchange, better known as MCX has continued to demonstrate strong financial performance despite challenges in the market. Multi Commodity Exchange Q4 results showcase remarkable growth in Q4 FY24, reporting a substantial net profit of ₹87.87 crores, a significant surge from ₹5.45 crore in Q4 FY23. This exponential growth underscores MCX's robust financial performance, driven by heightened trading volumes and efficient cost management strategies. 

Explore: Multi Commodity Exchange Share Price

Multi Commodity Exchange Q4 Results: 5 Key Financial Highlights

Throughout the quarter, the Exchange achieved certain milestones. Take a look at the Multi Commodity Exchange Q4 results: 

  1. The operating revenue surged by 35.43% to ₹181.14 crore during the 3-month Q4, up from ₹133.75 crore
  2. MCX witnessed an impressive increase in total revenue marking a remarkable growth of 30%. Their revenue soared from ₹153.83 crore in Q4 last year to ₹199.45 crore in Q4, 2024. 
  3. A final dividend of ₹7.64 per equity share for FY24 was recommended by the MCX Board of Directors
  4. EBITDA surged to ₹120.33 crores in Q4, from ₹22.15 crores in the corresponding quarter. 
  5. In Q4, the Exchange reached a record combined (F&O) daily turnover of ₹2.66 lakh crore on 12th January 2024, surpassing its previous best. This was swiftly exceeded, with a daily turnover of ₹2.92 lakh crore on 15th April 2024.

Additional Read: 129 Indian Companies to Release Q4 Results

Multi Commodity Exchange Q4 Results: Key Business Updates

Take a look at key updates by Multi Commodity Exchange in FY23-24

  • The Average Daily Turnover (ADT) of Commodity F&O surged by 89% YoY. It reached. ₹1,08,880 crore.
  • The notional ADT of commodity options soared over twofold reaching ₹89,244 crores, reflecting a 162% YoY increase.
  • EBITDA for FY24 stood at ₹139.70 crore
  • The total number of traded clients for futures and options soared 50% YoY and reached 9.32 lakh.
  • In 2023-24, MCX witnessed the highest-ever Total Income (consolidated) of ₹758.94 crore, marking a 30.59% YoY increase.
  • The PAT margin was recorded at 10.95%

Profitability Analysis

The exchange’s total income for the March quarter surged by 29.66% YoY to ₹199.45 crore. However, it experienced a 9.81% QoQ decline from ₹209.26 crore. Notably, net profit for the quarter stood at ₹87.87 crore, a significant improvement from the loss of ₹5.35 crore in the sequential quarter ended December 31, 20.

Additional Read: Quarterly Results

EBITDA Analysis

In this year's Q4, MCX’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) witnessed a notable improvement. It surged to ₹120.33 crores from ₹22.15 in the last quarter. In FY24, the overall EBITDA declined to ₹139.70 crores from ₹217.35 crores in the previous year, signalling a notable drop in profitability. 

Major Financial Metrics - Consolidated Q4 (FY2023-24) Multi Commodity Exchange Q4 Results

Metrics

Q4 FY 24

Q4 FY 23

FY24

FY23

Operating Revenue

₹181.14 Cr

₹133.75 Cr

₹683.55 Cr

₹513.51 Cr

Total Revenue

₹199.45 Cr

₹153.83 Cr

₹758.94 Cr

₹581.17 Cr

EBITA

₹120.33 Cr

₹22.15 Cr

₹139.70 Cr

₹217.35 Cr

Profit After Tax 

₹87.87 Cr

₹5.45 Cr

₹83.11 Cr

₹148.97 Cr

Settlement Guarantee Fund

₹ 780.94 Cr

₹ 589.67 Cr

-

-

Investment Project Financing

₹ 217.76 Cr

₹ 219.62 Cr

-

-

Book Value per share

₹ 270

₹ 290

-

-

Avg Realisation 

₹ 2.10 Per lakh

₹ 2.07 Per lakh

-

-

What the Future Holds for the Multi Commodity Exchange?

Despite uncertainties in the global economy, the Mumbai-based exchange, MCX is well-positioned to capitalise on emerging opportunities in the commodities market. The company will continue to focus on innovation, technology enhancement, and regulatory compliance to maintain its leadership position and drive sustainable growth in the future.

Additional Read : Annual Results

Conclusion

Be it industrial metals, bullion, agricultural or energy commodities, MCX provides trading across sections. Overall, in Q4, 2024, MCX maintained a solid financial position and it remains well-positioned for future growth opportunities. In summary, the financial year 2024, marked a significant milestone with the highest combined Average Daily Turnover (ADT) of Rs. 108,880 crore since the inception of Multi Commodity Exchange.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Frequently Asked Questions

What net profit do the Multi Commodity Exchange Q4 results show?

Answer Field

The net profit for the quarter amounted to  ₹87.87 crore, a significant improvement from the loss of  ₹5.35 crore in Q3 which ended on 31 December 2023, and ₹5.45 crore in Q4 last year.

According to the Multi Commodity Exchange Q4 results what are the operational highlights?

Answer Field

The FY23-24  witnessed the highest combined ADT of ₹108,880 crore since the inception of MCX.

How much gold and silver was delivered through the Exchange mechanism in Q4 FY 24?

Answer Field

During FY 2023-24,  1.74 tonnes of gold and 242.57 tonnes of silver was delivered.

What is the market share of MCX?

Answer Field

MCX is India’s leading commodity derivatives exchange. Currently, it holds a market share of about 96%

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