MCX announces dividend after earning profit of more than 87 crores in last quarter

There is a good news for the shareholders of Multi Commodity Exchange of India i.e. MCX. The company operating the commodity exchange has succeeded in recovering from continuous losses and now its shareholders are also going to get its benefits.

This much was the profit in March quarter

MCX has announced a dividend of Rs 7.64 on each share to its shareholders. This is the final dividend of MCX for the financial year 2023-24. The company has announced this final dividend at a time when it has made a net profit of Rs 87.8 crore during the March quarter. Before that the company was facing losses for two consecutive quarters.

There was such a surge in revenue

MCX had to suffer a loss of Rs 5.4 crore in the third quarter (October to December 2023) of the financial year 2023-24. Before that, MCX had also incurred losses in the second quarter from July to September 2023. Commodity exchange has also benefited on the revenue front. In the March quarter, its revenue has increased by 35 percent on an annual basis to Rs 181.1 crore.

Profit decreased so much in the entire financial year

If we look at the entire financial year, the financial result of MCX has not been good. Multi Commodity Exchange had a net profit of Rs 148.97 crore in the financial year 2022-23. In the financial year 2023-24, this figure has come down to Rs 83 crore. That means there has been a decline of 44.2 percent in the net profit of MCX for the entire financial year.

Record date announced after AGM

However, even after this, the Board of Directors has approved the proposal to pay dividend to the shareholders at the rate of Rs 7.64 per share. This proposal of dividend is yet to get the final approval from the shareholders. Shareholders will vote on this proposal in the 22nd annual general meeting. Only after that the record date regarding dividend will be announced.

Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest any money.

Also read: Sales decreased for the first time in 4 years, more than 6 thousand people will lose their jobs in Tesla