Financial Tech Q1 net profit up 94 pc at Rs 76.06 cr

Mumbai: Financial Technologies (India), the leading player in offering technology solutions, today said its net profit on a standalone basis jumped by 94 per cent to Rs 76.06 crore in the April-June quarter of FY13 compared to Rs 39.20 crore in the same period last year.

The total income increased by 68 per cent to Rs 146.86 crore compared to same quarter last year, a company statement said here.

The EBIDTA of the company shot up by 109 per cent to Rs 102.64 crore over the same quarter last year.

The board has declared an interim dividend of 100 per cent on the face value of Rs 2 per share.

Commenting on results, company's whole-time director Dewang Neralla said: "During this quarter our international exchanges stepped up to next level; BFX which commenced trading in November 2011, recorded an average daily turnover of USD 89.7 million during the quarter while DGCX recorded an average daily turnover of USD 1.4 billion, an increase of 144 percent over same quarter last year."

MCX, a group company of Financial Technologies and world's third largest commodity derivatives exchange continues to lead the commodity markets in India with 87 per cent of the market share. The average daily turnover grew 8 per cent over same quarter last year, it said.