MCX shares fall 5% post Q4 earnings, final dividend

Original source (on modern site) | Article images: [1]

Shares of Multi Commodity Exchange of India Ltd (MCX), the country's largest commodity derivatives exchange, slipped over 5% in early trade today after it announced March quarter earnings. Net profit came at Rs 87.8 crore during the January-March quarter of FY24 against Rs 5.45 crore in Q4 for FY23.

EBITDA came at Rs 120.33 crore in Q4 against Rs 22.15 crore in the corresponding quarter of the previous fiscal. MCX declared a final dividend of Rs 7.64 per equity share for FY24. India's largest exchange in the commodity derivatives market segment reported a net loss of Rs 5.4 crore during Q3 FY24. Operating revenue climbed 35% to Rs 181.14 crore in Q4 against Rs 133.75 crore in the March 2023 quarter.

The stock fell 5.66% to Rs 3800 on BSE. Market cap of MCX declined to Rs 19,542 crore. The stock has a beta of 0.6, indicating very low volatility in a year.

The stock has gained 176% in two years and risen 162% in a year. Total 0.48 lakh shares of the bourse changed hands amounting to a turnover of Rs 18.58 crore on BSE in early trade.

In terms of technicals, the relative strength index (RSI) of MCX stands at 67.6, signaling it's trading neither in the overbought nor in the oversold zone. MCX shares are trading higher than the 20 day, 30 day 50 day, 100 day, 150 day and 200 day moving averages.

The Board of Directors of MCX recommended a final dividend of Rs 7.64 per equity share for FY24. The recommended dividend will be approved by the shareholders at the 22nd Annual General Meeting. The company has yet to announce the date of the AGM, record date and eligibility of shareholders.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

< Back to 68k.news IN front page