MCX Shares Tumble as Quarterly Earnings Disappoint Investors
Shares of Multi Commodity Exchange (MCX) fell nearly 9% after disappointing quarterly earnings. Despite recording a profit of Rs 160.04 crore for the December quarter of FY25, the company's stocks slumped due to unsatisfactory investor response. Total income rose but expenses were reduced significantly.
- Country:
- India
Shares of Multi Commodity Exchange (MCX) took a nosedive on Tuesday, tumbling nearly 9% as investors reacted to the company's December quarter earnings report with dissatisfaction.
On the National Stock Exchange, MCX stocks declined by 8.74% to close at Rs 5,500.25 a piece, while on the Bombay Stock Exchange, the shares dropped by 8.53%, ending at Rs 5,503.85 per share.
During the trading day, MCX witnessed a sharp plunge of 12% in its shares on the exchanges. This movement came despite the company posting a quarterly profit of Rs 160.04 crore, propelled by increased revenue and decreased operational costs. The exchange saw its income rise to Rs 324.36 crore, up from Rs 209.26 crore in the same period last year.
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