MCX, the leading commodity exchange in India, faced a challenging second quarter as it reported a net loss of 190.7 million rupees, significantly lower than the profit of 632.7 million rupees recorded in the same period last year. This outcome fell short of estimates, which projected a profit of 12.3 million rupees based on two assessments.
The company’s total costs surged to 2 billion rupees, a stark contrast from the 675.6 million rupees reported in the previous year, reflecting increased operational expenses. Despite the rise in costs, MCX managed to achieve a 30% year-on-year increase in revenue, reaching 1.65 billion rupees. However, this revenue figure narrowly missed the estimated 1.68 billion rupees, adding to the challenges faced by the exchange.
In terms of investment advice, market sentiment remained mixed, with 5 buys, 2 holds, and 3 sells. These assessments were made based on the values reported by the company in their original disclosures.
As of the latest update, MCX shares were trading 3.26% lower at ₹2,537.95, reflecting investor concerns following the disappointing quarterly results.
