MCX Q4 results: Net profit declines 41%; announces dividend of ₹27.75/share1 min read . Updated: 23 May 2021, 12:16 PM IST
- The company's board recommended a final dividend of ₹27.70 per equity share for the 2020-21 fiscal.
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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