MCX net profit jumps two fold

NEW DELHI: The Multi Commodity Exchange (MCX) on Tuesday clocked over two fold jump in consolidated net profit to Rs 41.99 crore during the third quarter ended December 31, 2018, on account of strong revenue. The exchange's net profit stood at Rs 18.77 crore in the corresponding quarter of the previous financial year, the company said in a regulatory filing. Net income increased to Rs 109.10 crore on a consolidated basis during the December quarter of 2018-19 from Rs 76.52 crore in the year-ago period. Expenses, however, remained higher at Rs 59.81 crore, against Rs 50.91 crore in the year-ago period. MCX, Managing Director and Chief Executive Officer, Mrugank Paranjape, said, "It is particularly pleasing to demonstrate consistent strong growth in this year as we traverse a challenging and competitive arena." The average daily turnover in the futures segment on the MCX grew 31.56 per cent to Rs 26,614 crore during the third quarter of 2018-19 from the year-ago period. TV18 Home Shopping Network Ltd and NW18 HSN Holdings Pic ceasing to be subsidiaries and becoming associates with effect from February 15, 2018. Total income during the quarter under review stood at Rs 1,538.04 crore. It was Rs 439.23 crore in the same quarter previous year, it added. Commenting on the results, Network18, Chairman, Adil Zainulbhai, said, "Regional content consumption continues to see robust growth across all parts of the media industry that we play in, whether broadcasting or digital; and straddling (between) news, entertainment and film.” company had posted a net profit of Rs 39.09 crore in the OctoberDecember quarter of the previous fiscal, HMVL said in a BSE filing. However, its total income during the reported quarter was up 6.01 per cent to Rs 252.80 crore as against Rs 238.45 crore in the year-ago period. HMVL's total expenses were up 21.49 per cent to Rs 218.02 crore as against Rs 179.45 crore in the OctoberDecember period of 2017.