MCX shares end 3% down as Q4 profit declines

Shares of commodity exchange MCX fell nearly 6 per cent intraday after it reported a 45 per cent fall in standalone net profit during the fourth quarter of 2015-16 fiscal.

The stock declined by 5.39 per cent to Rs 867 at BSE, but ended 3.25 per cent lower.

MCX on Thursday reported a 45 per cent fall in standalone net profit to Rs 27.10 crore during the fourth quarter of the 2015-16 fiscal due to higher expenses.

The exchange had posted a net profit of Rs 49.30 crore in the same quarter of the 2014-15 fiscal.

Profit took a beating as expenses rose to Rs 47.35 crore in the quarter from Rs 31.93 crore in the same quarter of the previous fiscal, the exchange had said in a BSE filing.

However, total income from the operations rose marginally to Rs 60.50 crore in January-March from Rs 58.97 crore in the year-ago period.

For the full fiscal, the company's consolidated net profit declined sharply to Rs 42.47 crore from Rs 125.76 crore in the previous year.