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MCX stock tanks 12% after earnings fail to cheer investors
1 min read | Updated on January 21, 2025, 14:31 IST
SUMMARY
Shares of Multi Commodity Exchange (MCX) plunged 12% during Tuesday’s mid-session trade following its December quarter earnings, which failed to meet investor expectations. On the NSE, the stock fell to ₹5,301.30 apiece, while on the BSE, it dropped 11.37% to ₹5,333.15 apiece.
MCX reported a quarterly profit of ₹160.04 crore for the December quarter of FY25.
Shares of Multi Commodity Exchange (MCX) slumped 12% in the mid-session trade on Tuesday after the company's December quarter earnings failed to cheer investors.
On the NSE, shares of MCX declined 12% to ₹5,301.30 apiece. The scrip of the company plummeted 11.37% to ₹5,333.15 apiece on the NSE.
In the mid-session trade, the 30-share BSE Sensex declined 712.34 points or 0.92% to trade at 76,361.10 and NSE Nifty slipped 33.15 points to 23,311.60.
On Monday, MCX reported a quarterly profit of ₹160.04 crore for the December quarter of FY25, compared with a loss of ₹5.35 crore a year earlier, driven by stronger revenue and lower operational costs.
Total income at India's largest non-agricultural commodity derivatives exchange rose to ₹324.36 crore from ₹209.26 crore in the same period last year, the company said in a regulatory filing.
The exchange's expenses declined to ₹123.03 crore, from ₹222.25 crore in the previous year, it added.
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