Multi Commodity Exchange of India (MCX) shares fell 5% on November 4 as the company's September results missed brokerage estimates. This, even as the company reported a more than two-fold jump in consolidated net profit to Rs 455 crore for the September quarter of FY27, driven by a sharp rise in income and trading volumes.
The bourse had posted a net profit of Rs 197.47 crore in the year-ago period, according to a regulatory filing.
Motilal Oswal said the company's net profit missed estimates by 14% due to higher opex and tax rate.
"EBITDA came in at Rs 610 crore (6% miss), reflecting 151% growth YoY. EBITDA margins came in at 76.4% vs. 65.1% in 2QFY26 (estimate 80.4%)," said the brokerage.
"Staff cost grew 25% YoY to Rs 56 crore (in line). Other expenses rose 54% YoY to Rs 130 crore (33% higher than estimates largely due to SGF