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Home >Companies >Company Results >MCX Q4 results: Net profit declines 41%; announces dividend of 27.75/share

Leading commodity bourse Multi Commodity Exchange of India (MCX) reported a 41.31% decline in its consolidated net profit at 38.44 crore during the March quarter as compared to 65.50 crore in the same quarter previous fiscal.

The bourse's net income declined on a consolidated basis to 108.46 crore from 134.94 crore year-on-year (YoY). Expenses remained lower at 58.92 crore as against 70.32 crore in the said period.

The company's board recommended a final dividend of 27.70 per equity share for the 2020-21 fiscal.

''Recommended a final dividend of 27.70/- per equity share (face value of Rs.10/- each) for the financial year ended March 31, 2021, subject to deduction of tax at source and the approval of the shareholders in the ensuing Annual General Meeting. The date of payment/dispatch of dividend shall be intimated subsequently,'' it said in a filing.

Further, MCX said its average daily turnover in commodity futures (including index futures) on the exchange decreased by 13 per cent to 31,823 crore in the fourth quarter of the 2020-2021 fiscal from 36,626 crore in the same quarter previous year.

MCX observed that the novel coronavirus (COVID-19) pandemic continues to spread across the globe including India. COVID-19 has taken its toll on not just human life, but business and financial markets too.

However, based on the current assessment, "the management is of the view that the impact of COVID-19 on the operations of the Group and the carrying value of its assets and liabilities is minimal", the exchange said in its footnote.

In the 2020-21 fiscal, the market share of MCX was 95.04%. The exchange offers trading in various commodities both agri and non-agri commodities.

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