loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations

Open ICICI
3-in-1 Account

Manage your Savings, Demat and Trading Account conveniently at one place

+91

BLOG

MCX reported mixed performance as growth remained robust on YoY basis

ICICIdirect Research 05 Aug 2026 DISCLAIMER

News: MCX reported mixed performance as growth remained robust on YoY basis, though moderation was witnessed sequentially. Revenue from operations surged 88.1% YoY to ₹702 crore, though declined 21% QoQ; volatility in volume being the primary driver. EBITDA grew by 104.4% YoY to ₹494 crore (-25.8% QoQ), with operating margins expanding by 867 bps YoY to 70.4% (vs 64.8% in Q1FY26 and 74.9% in Q4FY26), supported by scale efficiency despite higher marketing spends, regulatory fee contributions, and annual employee salary increments. Consequently, PAT doubled, rising 103.5% YoY to ₹413.4 crore, though declined by 22% QoQ.

View: Structural change in business resulting in robust growth in options volumes seems to be largely factored in the valuations. Await new triggers for any further re-rating.

Impact: Neutral

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere