MCX Q3 Review - Traction In New Products To Drive Business Growth: ICICI Direct
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ICICI Direct Report
Multi Commodity Exchange of India Ltd. reported slight moderation in ADTO (Average Daily Turnover) attributable to upfront margin requirement impacting volume.
Operational performance remained healthy led by steady revenue and controlled opex. Decent growth in other income and utilization of moving annual turnover credit resulted in strong earnings growth.
ADTO in commodity futures on the exchange increased by 4% to Rs 32,181 crore in Q3 FY21, however, a 15% moderation was witnessed sequentially attributable to decline in gold price and kicking in regulatory requirement of upfront margin.
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