ICICI Direct: Continued Price Volatility To Aid Turnover, Earnings Of MCX
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ICICI Direct Report
Multi Commodity Exchange of India Ltd. reported an operationally healthy set of Q2 FY21 numbers led by strong revenue growth and steady opex.
However, lower other income and higher tax rate arrested profit after tax growth.
Average daily turnover of commodity futures contracts jumped 10% YoY, 64.9% QoQ to Rs 38144 crore in Q2 FY21.
Total volume of contracts (in lots) as on September 2020 was at approximately 6.1 crore versus approximately 4.2 crore in June 2020.
The company reported a sharp increase in its market share by approximately 418 basis points YoY to 97.05%.
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