MCX shares tumble 7% even as Q2 net profit surges 130% YoY, revenue more than doubles
MCX shares fell nearly 7% despite reporting 130% growth in second-quarter net profit and a 114% rise in revenue. Jefferies said EBITDA was largely in line with estimates, while higher technology costs and taxes affected the results.
MCX, India's multi-commodity exchange, saw its shares plummet by nearly 7% on Wednesday despite reporting a remarkable surge in profits and revenue for the second quarter of FY27. The stock plummeted to Rs 3,255 per share on the NSE, marking a notable drop from its recent 52-week high of Rs 3,538. This decline occurred after MCX hit a new all-time high just a day earlier.
The company's strong financial performance in Q2 was driven by significant growth in both its top line and bottom line, with net profit surging by 130% year-over-year to Rs 454.57 crore and revenue from operations jumping 114% to Rs 799.66 crore. However, this performance came with increased expenses, up over 40% year-over-year to Rs 211 crore, and EBITDA surging 146% to Rs 664 crore.
MCX CEO Praveena Rai attributed the company's success to the trust of market participants and the expanding relevance of the exchange in the evolving commodity ecosystem. She emphasized the need to continue building on this strong base by expanding market participation, broadening the product portfolio, and investing in technology and innovation.
Despite the stock's recent 7% decline, MCX shares have shown an impressive performance, gaining over 53% in 2026 and delivering multibagger returns of 562% over three years and 849% over five years. The company's market capitalization stands at around Rs 85,930 crore.
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