MCX Q4 Results Review - Weak Revenue Led To A 5% PAT Miss; Cost Broadly Inline: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Multi Commodity Exchange Of India Ltd. reported profit after tax of Rs 878 million, 5% lower than our estimates of Rs 923 million. Total revenue came in at Rs 1.8 billion, up 35% YoY (~13.4% miss). The miss was due to lower non-transaction revenues and lower-than-expected premium to notional turnover in the options segment. Overall volumes improved significantly, rising by 97% YoY to Rs 83 trillion. Futures volumes came in at Rs 11.1 trillion, down 15% YoY and 16% QoQ. Option volumes jumped 148% YoY and 18% QoQ to Rs 71.6 trillion. For FY24, revenue increased 33% YoY to Rs 6.8 billion and PAT declined 44% YoY to Rs 831 million.We have raised our FY25 and FY26 earnings per share estimates to factor in a stronger volume trajectory and anticipated new product launches. We reiterate our Buy rating with a one-year target price of Rs 4,400 (premised on 38 times FY26E EPS)..Click on the attachment to read the full report:.Tata Consumer Products Q4 Review - Performance Of Growth Businesses Crucial For Re-Rating: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

MCX Q4 Results Review - Weak Revenue Led To A 5% PAT Miss; Cost Broadly Inline: Motilal Oswal

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