Multi Commodity Exchange of India (MCX) Q3 24/25 earnings summary

Executive summary

• Consolidated income from operations for Q3 FY25 reached ₹301.38 Cr., a 57% year-over-year increase, with total revenue at ₹324.36 Cr.

• Q3 PAT rose to ₹160.04 Cr., compared to a loss of ₹5.35 Cr. in Q3 FY24 and ₹153 Cr. in the previous quarter.

• Average daily turnover (ADT) for futures and options combined was ₹209,000 Cr. for the nine months ending Q3, up 106% year-over-year.

• Traded client base grew 49% year-over-year, reaching 1.1 million for the first time.

• Board approved unaudited standalone and consolidated results for the quarter and nine months ended December 31, 2024.

Financial highlights

• Options ADT was ₹182,000 Cr., up 124% year-over-year; futures ADT was ₹27,000 Cr., up 33%.

• Transaction charges for Q3 were ₹265 Cr. (72% from options, 28% from futures), up from ₹245 Cr. in Q2.

• Premium turnover for options in Q3 was ₹3,600 Cr., up 11% from Q2.

• Book value per share stood at ₹270 as of March 31, 2024.

• Basic and diluted EPS (consolidated) for Q3 FY25 was ₹31.38, up from negative ₹1.05 in Q3 FY24.

Outlook and guidance

• Management expects growth momentum to continue, citing steady and consistent performance, but notes caution due to market, regulatory, and economic uncertainties.

• Plans to launch new commodity derivative contracts and innovate existing products in the coming months.

• Focus on expanding product range and increasing participation from FPIs, hedgers, and commercial participants.