MCX Shares Dive Despite Profitable Quarter

Shares of Multi Commodity Exchange (MCX) fell 12% despite the company reporting a profit for the December quarter, as investors remained unimpressed. Their income rose to Rs 324.36 crore while expenses declined to Rs 123.03 crore. The BSE Sensex and NSE Nifty also saw declines.

Shares of the Multi Commodity Exchange (MCX) tumbled 12% during mid-session trading on Tuesday, following quarterly earnings that didn't meet investor expectations.

On the National Stock Exchange (NSE), MCX shares dropped by 12% to Rs 5,301.30 each. Simultaneously, on the Bombay Stock Exchange (BSE), the 30-share Sensex dipped by 712.34 points, marking a 0.92% fall.

Despite reporting a quarterly profit of Rs 160.04 crore, the largest non-agricultural commodity derivatives exchange in India cited an increase in income to Rs 324.36 crore, offset by a reduction in expenses to Rs 123.03 crore.

(With inputs from agencies.)