Multi Commodity Exchange of India (MCX) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 saw consolidated net profit after tax rise to ₹11,092 lakh, up from ₹1,966 lakh in Q1 FY24 and ₹8,787 lakh in Q4 FY24, reflecting strong year-over-year and sequential growth.

• Operating income rose 29% sequentially to INR 234 crore, with total revenue up 52% year-over-year to INR 253 crore.

• Options trading volume surged, driving overall turnover growth and reinforcing market leadership in commodity derivatives.

• Market share in commodity futures remained strong at approximately 98% by quarter end, with dominance in precious metals and energy segments.

• Board approved the unaudited financial results for the quarter ended June 30, 2024.

Financial highlights

• Operating revenue for Q1 FY25 was ₹23,437 lakh, up from ₹14,577 lakh in Q1 FY24 and ₹18,114 lakh in Q4 FY24.

• EBITDA increased 386% year-over-year to ₹15,138 lakh; PAT up 464% to ₹11,092 lakh.

• Transaction income: INR 71 crore from futures and INR 127 crore from options in Q1 FY25.

• Float income for the quarter was around INR 20 crore.

• Earnings per share (consolidated, basic and diluted) for Q1 FY25 was ₹21.75, up from ₹3.86 in Q1 FY24.

Outlook and guidance

• New product launches planned: Cottonseed Wash Oil, Crude Sunflower Oil, Gold 10-gram monthly futures; index options and electricity futures pending regulatory approvals.

• Voluntary SGF contributions of INR 10 crore per quarter expected to continue in the medium term.

• Forward-looking statements highlight expectations of continued growth, but caution about risks from economic, political, and regulatory changes.