PSX’s earnings jump to Rs1.03bn in FY24, massive 368% higher
- Increase led by share of profit from associates and income from exchange operations
The Pakistan Stock Exchange (PSX) registered a profit of Rs1.03 billion in fiscal year 2024, a massive increase of 368% on a year-on-year basis.
As per the company’s financial results released to the exchange on Wednesday, the company, engaged in conducting, regulating and controlling the trade in shares, reported a profit of Rs219 million in the previous fiscal year.
Resultantly, the company’s earnings per share (EPS) rose to Rs1.28 in FY24 as compared to EPS of Re0.27 in the same period last year (SPLY).
The PSX also announced a cash dividend of Re1 per share.
The announcement was followed by the share price rising at the stock exchange to hit a high of Rs15. At the time of this report, PSX’s share was at Rs14.32 with a gain of Re0.38 or 2.73%.
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During the period under review, the exchange’s revenue from listing fees, income from exchange operations, interest income and rental income from investment property improved to Rs2.12 billion compared to Rs1.46 billion in SPLY, an increase of nearly 45%.
Meanwhile, the company saw its administrative expenses balloon to Rs2 billion in FY24, up from Rs1.57 billion in SPLY, an increase of 27%.
Resultantly, PSX’s operating profit stood at Rs112.6 million in FY24, as compared to a loss of Rs110 million in SPLY.
Moreover, the exchange registered an amount of Rs996.9 million as other income and share of profit from associates in FY24, as compared to Rs359.6 million in SPLY, an exponential increase of 177%.
Consequently, the exchange profit before tax clocked in at Rs1.1 billion in FY24, as compared to Rs249.5 million, up 345%.
PSX was incorporated under the Companies Act, 1913 (now Companies Act, 2017) on March 10, 1949, as a company limited by guarantee. However, on August 27, 2012, the company was re-registered as a public company limited by shares.
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