MCX shares jump nearly 5% on SEBI's nod to appointment of Praveena Rai as new CEO

Shares of Multi Commodity Exchange (MCX) surged as much as 4.75% to ₹4,421 apiece on the BSE in the morning trade on Friday, August 9, a day after the company informed bourses that markets regulator SEBI has given its approval to the appointment of Praveena Rai as MD and CEO of the company.

A week ago, the commodity exchange released its June quarter (Q1 FY25) numbers. The company's consolidated net profit jumped 464% year-on-year (YoY) to ₹110.92 crore as against ₹19.66 crore registered in the year-ago period.

On a sequential basis, the profit grew by 26%. The company's net profit in the previous quarter stood at ₹87.87 crore.

Income from operations came in at ₹234.37 crore, up 60.1% from ₹145.77 crore logged in the corresponding quarter of the previous fiscal. On a quarter-on-quarter (QoQ) basis, the figure increased by 29.3% from ₹181.14 crore in the March 2024 quarter.

As per news reports, EBITDA, or earnings before interest, taxes, depreciation, and amortisation, rose 30% QoQ to ₹132.6 crore, while margins came in at 56.6% as against 56.3% seen in the previous quarter.

MCX stock performance

Shares of the company have rallied 172% in the past 12 months and 419% in the past five years.