Multi Commodity Exchange of India (MCX) Q1 24/25 earnings summary

Executive summary

• Consolidated net profit after tax for Q1 FY25 was ₹11,092 lakh, up from ₹1,966 lakh in Q1 FY24 and ₹8,787 lakh in Q4 FY24, reflecting strong year-over-year and sequential growth.

• Consolidated income rose 27% sequentially to INR 253 crore, with operating income up 29% to INR 234 crore in Q1 FY25.

• Maintained market leadership in commodity derivatives with a 98% share in futures turnover.

• Expanded operational reach to 669 cities/towns and 2.58 crore unique client codes as of June 30, 2024.

• Total traded clients in F&O grew 40% year-over-year to 5.67 lakh.

Financial highlights

• Operating revenue rose 61% year-over-year to ₹234.37 crore; total revenue up 52% to ₹253.19 crore.

• EBITDA surged 386% year-over-year to ₹151.38 crore; PAT increased 464% to ₹110.92 crore.

• Transaction income: INR 71 crore from futures and INR 127 crore from options in Q1 FY25.

• Float income for the quarter was around INR 20 crore.

• Earnings per share (consolidated, basic and diluted) for Q1 FY25 was ₹21.75, up from ₹3.86 in Q1 FY24.

Outlook and guidance

• New product launches planned: Cottonseed Wash Oil, Crude Sunflower Oil, and Gold 10-gram monthly futures.

• Index options and electricity futures are in the pipeline, pending regulatory approvals.

• Voluntary SGF contributions of INR 10 crore per quarter expected to continue in the medium term.

• Forward-looking statements highlight expectations of continued growth, but caution is advised due to market and regulatory uncertainties.