Multi Commodity Exchange of India (MCX) reported a sharp rise in profit and revenue for the September quarter of financial year 2026-27 (Q2FY27), with earnings more than doubling from a year earlier.
Net profit rose to ₹454.57 crore from ₹197.47 crore in the corresponding quarter of the previous financial year.
Revenue increased to ₹799.66 crore from ₹374.23 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed to ₹611.24 crore from ₹243.63 crore.
The EBITDA margin – the share of revenue converted into operating earnings – expanded to 76.4% from 65.1% in the year-earlier quarter.
Commenting on the financial results, Praveena Rai, Managing Director & CEO, MCX, said, “For over two decades, MCX has played a pivotal role in strengthening India’s commodity markets through transparent price discovery and effective risk management solutions. Our strong performance in Q2 FY27 reflects the continued trust of market participants and the growing relevance of the Exchange in the evolving commodity ecosystem.”
H1 FY27 performance
MCX reported a strong performance in the first half of FY27, with consolidated revenue from operations rising 100.8% year on year to ₹1,502 crore. EBITDA increased 121.3% to ₹1,206 crore, while profit after tax (PAT) grew 116.4% to ₹868 crore.
The exchange also reported higher trading activity, with the average daily turnover (ADT) of futures rising to ₹61,280 crore and options turnover increasing to ₹10,96,529 crore during H1 FY27.
MCX invests ₹51.5 crore in coal exchange subsidiary
Separately, MCX invested an additional ₹51.50 crore in its wholly owned subsidiary, MCX Coal Exchange of India Ltd, during the quarter ended September 30, 2026.
The investment took the total capital infused into the subsidiary to ₹52.50 crore as of September 30. The amount represents 5.25 crore shares with a face value of ₹10 each.
SBI Securities sees 14% upside in MCX
In a separate note, SBI Securities set a price target of ₹3,633 for MCX for Samvat 2083, implying an upside of 14% from current levels.
The brokerage described MCX as a direct play on global commodity-price volatility. It expects average daily traded (ADT) momentum to remain healthy, supported by volatility across commodities — particularly energy and bullion — and greater market participation.
MCX shares rose 7.42% to close at ₹3,490.10 on Tuesday, November 3, gaining ₹241.10 ahead of the earnings announcement.
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