MCX India tanks on poor Q3 show

MCX India is amongst the top losers on the BSE. It went down over 5.5% to Rs.845.70, a new 52-week low.

The company posted a much lower-than-expected Q3FY18 performance. Impacted by fall in daily turnover in commodity futures, higher operating costs due to increased spend on launch of options and rise in bond yields dented investment gains.

The effect of all this – consolidated net profit fell 45% (YoY) to Rs.19 crore on a 11% drop in revenue at Rs.61 crore. EBITDA was down 20% at Rs.13.5 crore while margins declined sharply from 28.1% to 22.2%.