Shares dropped to Rs 3,255 on Wednesday morning despite the company reporting an operating EBITDA margin expansion to 78% on Rs 664 crore. Daily trading volumes remained robust, propelled by Rs 12,00,129 crore in options turnover and Rs 62,819 crore in futures activity. However, brokerage analysis from Jefferies emphasized that technology cost increases missed expectations while a Rs 470 million tax charge at MCXCCL dented the final bottom-line performance.
Key points
Despite the single-day selloff, the exchange has rewarded investors with an 81 percent st…: Despite the single-day selloff, the exchange has rewarded investors with an 81 percent stock gain over the preceding year.
Earnings expansion was largely powered by massive options turnover alongside operating pr…: Earnings expansion was largely powered by massive options turnover alongside operating profit margins that widened to 78 percent.
Higher taxation expenses incurred by subsidiary MCXCCL weighed down the exchange's otherw…: Higher taxation expenses incurred by subsidiary MCXCCL weighed down the exchange's otherwise strong bottom-line execution.
Sources checked by our analysis pipeline: 1
MCX shares fell to Rs 3,255 apiece on the NSE on Wednesday morning, a day after touching a fresh 52-week high of Rs 3,538. The stock has more than doubled from its 52-week low of Rs 1,762, recorded a year ago.
Also read | MCX Q2 Results: Profit rockets 130% YoY to Rs 455 crore, revenue jumps 114%
MCX on Tuesday reported a 130% year-on-year (YoY) surge in consolidated net profit to Rs 454.57 crore in the second quarter of FY27, significantly up from Rs 197.47 crore in the corresponding quarter of the previous financial year. Its revenue from operations surged 114% YoY to Rs 799.66 crore from Rs 374.23 crore in the year-ago quarter
The commodity exchange’s total expenses grew over 40% YoY to Rs 211 crore, while earnings before interest, taxes, depreciation and amortisation (EBITDA) soared 146% YoY to Rs 664 crore. EBITDA margin also expanded to 78% from 72.3% a year earlier.
MCX said its Average Daily Turnover (ADT) of futures increased to Rs 62,819 crore, and for options it increased to Rs 12,00,129 crore. “For over…
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