MCX Q1 net profit up 29% at Rs 56.43 crore

The Multi Commodity Exchange of India (MCX) has posted a 29 per cent growth in its June quarter net profit at Rs 56.43 crore.

Its net profit stood at Rs 43.70 crore during the corresponding quarter a year ago, MCX said in a BSE filing on Saturday.

For the quarter ended June 2020, MCX's total income increased by 11 per cent to Rs 122.70 crore from Rs 110.84 crore from a year-ago period.

However, the operating income decreased by 14 per cent to Rs 73.01 crore from Rs 84.97 crore in the corresponding quarter of 2019.

The average daily turnover of commodity futures contracts traded on the exchange decreased by 16 per cent to Rs 23,129 crore in Q1 FY21 from Rs 27,473 crore in the June quarter of FY20.

During the first quarter of FY21, the exchange's market share in commodity derivative space increased to 96.71 per cent as against 91.60 per cent in the corresponding quarter a year earlier.

During the quarter under review, 21,028 tonnes of base metals were delivered as against 4,773.50 tonnes in the same quarter of FY20 through the exchange mechanism, MCX said.