Shares of Multi Commodity Exchange of India (MCX) surged 4.56% to ₹7,941 on Monday after the company announced its first-ever stock split and posted strong Q1 FY25 earnings. Despite recent volatility, the stock has delivered a robust 36% gain over the past six months, although it has dropped nearly 11% in the last month.
For Q1 FY25, MCX reported a consolidated net profit of ₹203.20 crore, an 83% jump from ₹111 crore in the same quarter last year. Operational revenue rose 60% year-on-year to ₹373 crore, while EBITDA climbed 82% to ₹241.6 crore. EBITDA margins improved sharply by 870 basis points to 64.7%. The bullion segment’s share in the Average Daily Turnover (ADT) grew from 23% to 44%, bolstered by new contracts like Gold Mini and Gold Ten Futures. Additionally, MCX launched monthly Silver (30 kg) and Silver Mini (5 kg) expiry contracts.
CEO Praveena Rai highlighted increased participation from institutional and MSME clients, attributing it to product innovation and awareness initiatives. The board approved a 1:5 stock split (₹10 face value to ₹2 each), aiming to make the shares more affordable and accessible to retail investors. The record date will be set post-approval.
