The net income of Karachi Stock Exchange (KSE) has declined by 59.3 percent to Rs 314.085 million in the year ended June 30, 2009 (FY09) as compared to Rs 771.728 million earned in the same period in FY08. The major reason for this decline has been attributed to a drastic decrease in its income from operations and mark-up/interest.
According to the KSE annual report 2009, the exchange's income from operations declined to Rs 192.550 million in FY09 against Rs 690.270 million recorded in FY08. Similarly, the mark-up/interest income decreased to Rs 341.034 million in the period under review against Rs 596.718 million in the same period a year ago. The income from listing, however, increased to Rs 111.649 million against Rs 109.560 million.
In the expenditure account, the KSE's administrative expenses reduced to Rs 502.759 million against Rs 528.382 million while financial and other charges declined to Rs 31.887 million against Rs 187.090 million.
In the other income, the KSE earning increased to Rs 59.892 million against Rs 30.183 million. The net on de-recognition of fixed assets declined to Rs 59.616 million against Rs 68.345 million while share of profit of associates decreased to Rs 93.208 million against Rs 220.541 million. The before tax income of the exchange stood at Rs 378.925 million in FY09 against Rs 1,000.145 million in FY08. The exchange paid Rs 64.840 million as taxation in this period against Rs 228.417 million paid a year ago.
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