MCX posts over 12.5% YoY rise in Q3 PAT to ₹39 cr, revenue increases
1 min read . Updated: 04 Feb 2023, 08:32 PM IST
Premium- Consolidated income from operations stood at ₹143.57 crore in Q3 of the current fiscal, rising from ₹89.55 crore in Q3 of the previous fiscal and ₹127.40 crore in the preceding quarter.
Securities and commodities exchanges company, Multi Commodity Exchange (MCX) on Saturday reported its third quarter earnings for FY23, under which, its profitability was a mixed bag but top-line front picked up momentum. MCX posted a 12.6% growth in its consolidated net profit to ₹38.79 crore which is attributable to the owners for the third quarter of FY23. The company posted a profit of ₹34.46 crore a year ago same period.
However, Q3 PAT declined by 38.69% from ₹63.27 crore recorded in the September 2022 quarter.
Consolidated income from operations stood at ₹143.57 crore in Q3 of the current fiscal, rising from ₹89.55 crore in Q3 of the previous fiscal and ₹127.40 crore in the preceding quarter.
Total income came in at ₹163.65 crore in Q3FY23 versus ₹104.06 crore in Q3FY23 and ₹145.64 crore in Q2FY23.
For the nine months period, MCX's net profit is at ₹106.92 crore versus ₹143.45 crore in 9MFY22. Income from operations stood at ₹379.76 crore in 9MFY23 compared to ₹260.35 crore in the corresponding period of the previous year.
In its financial audit report, MCX said that the holding company had entered into an agreement with Tata Consultancy Services (TCS) where the new Commodity Derivative Platform (CDP) was to be developed, tested, and delivered by TCS by September 30, 2022.
However, since the said new system is under development, the company considering the exigency to ensure continuity of the existing commodity derivatives trading and clearing platform has issued a Purchase Order on September 30, 2022, to the existing service provider, 63 Moons Technologies, to extend their support and management services to the existing commodity trading platform for the period October 1, 2022, to December 31, 2022, for ₹60 crore (plus applicable taxes).
These services were further extended for another two quarters, ending on June 30, 2023, for ₹81 crore per quarter as per the minimum period of services offered by the vendor.
On BSE, MCX shares closed at ₹1,510.05 apiece up by 2.72% on Friday. The company's market cap is around ₹7,701.01 crore as of February 3rd.
