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Business News/ Markets / Stock Markets/  MCX Q4 net profit tumbles 85% to 5.45 Cr on higher software support charges, Board declares 19.09 dividend

Multi Commodity Exchange Of India (MCX) is a mid cap exchange platform that recorded a market cap of 6,881.9 Cr during Friday's closing session.

The Board of Directors have “Recommended a final dividend of 19.09/- per equity share (face value of Rs.10/- each) for the Financial Year ended March 31, 2023. This proposal is subject to approval of shareholders at the ensuing 21st Annual General Meeting of the Company. The date of 21st Annual General Meeting, the record date to determine the eligibility of shareholders for payment of dividend and the date of payment/dispatch of dividend shall be intimated subsequently," said MCX in a stock exchange filing on Saturday.

During Q4FY23, the company recorded consolidated revenue from operations of Rs 133.75 Cr up by 25.63% YoY from 106.46 Cr in Q4FY22. During the quarter ended March 2023 MCX reported a consolidated net income of 153.83 Cr compared to 121.04 Cr in the quarter ended March 2022. 

MCX reported a consolidated net expense of 137.55 Cr during the quarter under review up by 145.53% YoY from 56.02 Cr during the corresponding quarter of FY22. The Q4FY23 consolidated net profit of MCX dropped to 5.45 Cr down by 85.08% from 36.53 Cr recorded in the year-ago quarter. The EPS of MCX plummeted to 1.07 compared to 7.18 in the same quarter of FY22.

During the financial year ended March 2023, the company recorded consolidated revenue from operations of 513.51 Cr up by 40% YoY from 366.81 Cr in the financial year ended March 2022. During 12MFY23, its net income stood at 581.17 Cr compared to 433.31 Cr in 12MFY22. The company’s net expenses stood at 385.62 Cr compared to 227.57 Cr in the previous financial year. Its 12MFY23 consolidated net profit was flat at 148.97 Cr as against 143.45 Cr in 12MFY22. 

Commenting on the results, A R Ramachandran, Co-founder & Trainer-Tips2trades said “Below average Q4FY23 results due to extremely high software support charges has severely dented net profit margins thereby leading to a very flat full year FY23 for MCX. Technically, till Daily resistance of 1413 is not breached on a closing basis, the stock price looks weak and a fall till support of 1238 looks possible in the near term."

On Friday, the shares of MCX closed on the BSE at 1349.45 apiece down by 0.49% from the previous close of 1356.15.


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Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Updated: 20 May 2023, 09:24 PM IST
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