MUMBAI — The Multi Commodity Exchange of India (MCX), the country's largest commodity derivatives exchange, has 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 Hindu BusinessLine reported on November 4, citing the exchange's regulatory filing. The bourse had posted a net profit of Rs 197.47 crore in the year-ago period; the exact consolidated figure was Rs 454.57 crore, up about 130% year on year and about 10% above the June quarter's Rs 413.44 crore, according to The Financial Economy's reading of the results.

Source: The Hindu BusinessLine

Income from operations surged to Rs 799.66 crore from Rs 374.23 crore a year earlier, a rise of about 114%, while expenses rose far more slowly, to Rs 211.36 crore from Rs 150.41 crore, BusinessLine reported. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 145.9% year on year to Rs 664 crore, with the EBITDA margin expanding by 10.7 percentage points to 78.0%, aided by the scalable nature of the exchange platform, DSIJ reported. MCX earns most of its money from transaction fees, so turnover is the number that matters, and options did the heavy lifting: options average daily turnover reached Rs 12,00,129 crore (notional) in the quarter, while futures averaged Rs 62,819 crore a day.

Source: DSIJ Insights

Combined futures and options average daily turnover reached Rs 12.63 lakh crore in Q2 FY27, up 207.1% year on year and 20.4% over the previous quarter, with options turnover up 224.8% and futures up 50.6%, DSIJ reported, adding that combined traded clients rose 89.8% year on year to 14.98 lakh. The exchange also saw physical deliveries of 5.68 tonnes of gold, 199.91 tonnes of silver and 34,707 tonnes of base metals during the quarter, BusinessLine reported. For the first half of FY27, consolidated net profit stood at Rs 868.01 crore, ScanX reported; the board approved the unaudited results on November 3, 2026.

Source: ScanX

Despite the record numbers, the stock went the other way: as of 9:30 a.m. on November 4, MCX shares were trading at Rs 3,272, about 6.33% below the previous close, DSIJ reported, noting that options revenue conversion remains linked not only to turnover but also to commodity volatility and option premium levels, which can affect transaction income across quarters. The surge in volumes came as crude oil, gold and silver prices swung sharply, lifting transaction fee income, The Financial Economy noted. Sources: The Hindu BusinessLine, The Financial Economy, DSIJ, ScanX.

Source: The Financial Economy