Results: MCX posts 41.31% fall in Q4 net profit
Results: MCX posts 41.31% fall in Q4 net profit

Leading commodity bourse MCX reported a 41.31 per cent drop in its consolidated net profit at Rs 38.44 crore during the fourth quarter of the 2020-21 fiscal on poor income.

Net profit stood at Rs 65.50 crore in the same quarter previous fiscal, according to a regulatory filing released late on Saturday.

Net income declined on a consolidated basis to Rs 108.46 crore in the fourth quarter of the 2020-21 fiscal from Rs 134.94 crore in the same quarter previous year.

Expenses remained lower at Rs 58.92 crore as against Rs 70.32 crore in the said period.

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

MCX board has recommended a final dividend of Rs 27.70 per equity share for the 2020-21 fiscal.

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

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