The Pakistan Stock Exchange (PSX) has announced a remarkable three-fold surge in profit after tax for the nine-month period ending March 31, 2024, underscoring a significant upturn in its financial performance.
According to consolidated financial results released by the Pakistan Stock Exchange on Wednesday, the exchange reported a profit after tax of Rs 778 million for the period spanning from July 2023 to March 2024. This marks a substantial increase from Rs 193 million recorded during the corresponding period in the previous fiscal year, reflecting a staggering growth rate of 303 percent.
The surge in profitability translates to an impressive earnings per share (EPS) of Rs 0.97 for the nine months ended March 31, 2024, compared to Rs 0.24 in the corresponding period of the preceding year, signaling robust financial health and operational efficiency.
The board of directors of the PSX convened on April 17, 2024, to review the financial performance and recommended no entitlement for the nine-month period ended March 31, 2024, in light of the exceptional results achieved.
The PSX’s total revenue witnessed a substantial uptick, reaching Rs 1.60 billion during the nine-month period under review, compared to Rs 1.10 billion in the corresponding period of the previous fiscal year. Key contributors to revenue growth include licensing fees, income from exchange operations, and mark-up income.
The exchange’s operating profit witnessed a remarkable turnaround, surging to Rs 137.49 million during July to March 2023-24, in stark contrast to the loss of Rs 70 million incurred during the same period in the previous fiscal year, demonstrating improved operational efficiency and cost management.
Profit before tax soared to Rs 849 million during the nine-month period ended March 31, 2024, compared to Rs 204 million in the corresponding period of the previous year, reflecting robust revenue growth and effective financial management strategies.
In the third quarter (January to March 2024), the PSX reported an after-tax profit of Rs 287 million, marking a significant increase from Rs 25.37 million recorded in the same quarter of the previous year, further underscoring the exchange’s sustained growth trajectory and resilience amid challenging market conditions.
The PSX’s stellar financial performance highlights its pivotal role as a key driver of economic growth and investor confidence in Pakistan’s capital markets. As the exchange continues to chart new milestones and pursue strategic initiatives, stakeholders can expect sustained value creation and a conducive environment for investment and growth in the years to come.
