Conference Call with Multi Commodity Exchange of India Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Multi Commodity Exchange of India announced Q2FY24 results: The quarterly revenue from operations increased by 30% to Rs 165.11 crore compared to Q2FY23. On the other hand, MCX’s operating income increased by 13% for Q2FY24 from Rs 145.77 crore over the sequential quarter, Q1FY24. Average daily turnover (ADT) of futures and options during Q2FY24 saw a significant increase, rising by 25.5% to reach Rs 1,04,636 crore, compared to the previous quarter’s Rs 83,341 crore. The traded clients witnessed a QoQ growth of ~ 13.1% reaching ~ 4.45 lakh during Q2FY24 as against 3.93 lakh in the previous quarter, Q1FY24. Options’ ADT grew by 38.7% to Rs 85,873 crore in Q2FY24 from Rs 61,928 crore in Q1FY24. Despite the contribution to the Settlement Guarantee Fund (SGF) of Rs 11.4 crore and payments made to the technology vendor, the loss for the quarter was limited to Rs 19.07 crore. P S Reddy, MD and CEO, MCX, said, “This migration marks a significant milestone and a new beginning in our quest to develop India’s commodity derivatives market eco-system, driven by technology, in alignment with the Exchange’s strategic vision. As we move forward, our dedication and commitment to strengthen infrastructure and foster innovation in the industry will continue to reinforce our position as India’s leading commodity exchange.” Result PDF