Multi Commodity Exchange of India (MCX) posted a weak set of earnings in Q3; fall in margins as well as in revenue. Profit after tax (PAT) dipped by 45 percent while margins too took a hit. In an interview with CNBC-TV18, Mrugank Paranjpe, MD & CEO of MCX gave a detailed insight into this quarter's earnings.
Paranjpe said that the overall turnover down at 9 percent; Q3 usually a subdued quarter. However, metals have shown a healthy growth.
He further said that we are working to ensure that cost base remains flat.
We saw 10-12 percent rise in volumes in first ten days of 2018, he said.
We are looking to launch crude, zinc, copper and silver in Futures and Options (F&O), Paranjpe further mentioned.
"We believe that absolutely justified request and something which we are very hopeful, the Budget will take care of this year is the re-introduction of benefits under section 88E for our members. We believe this will go long way in terms of boosting both the volumes and the confidence in the overall commodity markets in terms of volume as well," he added.
Watch accompanying video for more details.
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