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market | IST

Aim to add more products in Options, says MCX

Multi Commodity Exchange of India (MCX), the country's largest commodity exchange, reported a strong fourth quarter with highest growth rate in average daily turnover in the last 13 quarters.
The year-on-year (Y-o-Y) revenues were up 11% at Rs 96.6% versus Rs 87 crore, while operating expenses were down 4% at Rs 47.6 crore.
The Y-o-Y EBITDA was up 31% at Rs 49 crore versus Rs 37.4 crore.
Talking about the earnings in detail, Mrugank M Paranjape, MD and CEO, MCX, said the board has approved a dividend of Rs 17 per share.
He said three things helped the company to clock good revenue growth in the quarter.
One was overall rally in all the products, asset classes, two was better treasury income and three managed to keep costs lower, said Paranjape.
He said, “Volumes growth on exchange has surged month on month. It is up 17% quarter on quarter,” adding that volumes in April also look better than Q4FY18.
With regards to options, he said that company has applied to Sebi for adding more products and post that, more contracts are expected to come in.
Paranjape said that response has been good for the liquidity enhancement scheme for gold options.