Q3 2025 Multi Commodity Exchange of India Ltd Earnings Call Transcript
Key Points
- Multi Commodity Exchange of India Ltd (BOM:534091) reported a 57% year-over-year growth in consolidated income from operations, reaching INR301 crores.
- The company achieved a significant increase in Profit After Tax (PAT) to INR160 crores, compared to a loss of INR5.35 crores in the same quarter last year.
- Average daily turnover (ADT) for futures and options combined reached INR2,09,000 crores, marking a 106% year-over-year growth.
- The exchange saw a 49% growth in traded clients, reaching 11 lakh clients for the first time during the nine-month period.
- Multi Commodity Exchange of India Ltd (BOM:534091) received the Digital Transformation and Resilience Award at the Red Hat APAC Innovation Awards 2024 and was named the leading commodity exchange by CPAI.
- Despite the growth, there is uncertainty regarding the timeline for launching new products such as weekly options and index weekly options contracts.
- The company faces regulatory challenges, particularly in the area of co-location services for commodity derivatives, which are not currently approved.
- Base metals volumes have not picked up as expected, and the company is exploring rationalization around warehouses to drive growth.
- The technology cost has seen a decline, but there is uncertainty about whether this reduction is sustainable in the long term.
- There is a high concentration of revenue from bullion futures, which could pose a risk if market conditions change.
Ladies and gentlemen, good day, and welcome to the Multi Commodity Exchange of India Limited Q3 FY25 Earnings Conference Call.
Joining us on the call are Ms. Praveena Rai, Managing Director and Chief Executive Officer; Mr. Manoj Jain, Chief Operating Officer; Mr. Chandresh Shah, Chief Financial Officer; Mr. Rishi Nathany, Chief Business Officer; and Mr. Praveen DG, Chief Risk Officer.
(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Ms. Praveena Rai, MD and CEO. Please go ahead.
Good evening, everybody. Welcome to the call. Wonderful to be talking to all of you. MCX has had another really good quarter. We've just released our results yesterday evening. As you would have seen, we've closed our Q3 consolidated income from operations at INR301 crores. That's 57% growth over same time last year.
For this quarter, the PAT has increased to INR160 crores. Same time last
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