Is there any point in doing MBA after MCom from Mumbai University ?

Depends entirely on you... If you feel your career could be helped by the injection of an MBA, you should consider it as a legitimate option. Since you've already done M.Com, you won't find CAT preparation as difficult as some others. In my opinion, you should rather go for a professional course like CFA or CMA. I would advise CA as well, but it might just take too long for someone with your profile. Think about it...