MCX Q2 profits up by 23.25%

Leading commodity bourse MCX posted a 23.25 percent jump in its consolidated net profit at Rs 35.93 crore in the second quarter of the 2018-19 fiscal on higher income.

Its net profit stood at 29.15 crore in the same quarter last fiscal, as per the regulatory filing.

Net income rose to Rs 93.27 crore in the July-September quarter of the 2018-19 fiscal from Rs 91.54 crore in the year-ago period.

Commenting on the performance, MCX managing director and CEO Mrugank Paranjape said: "The second quarter of FY'19 has been yet another impressive period with 12.2 percent year-on-year (YoY) growth in turnover. Our robust performance in the quarter as well as first half of the fiscal was driven by strong growth in base metals and energy segments."

As the company moves into the second half of 2018-19, he said, "We will continue to focus our efforts on tapping opportunities and enriching our products for the further growth of commodities market. We are also determined to develop new products that shall help us reach out to more market participants.