PSX observed 42% growth in annual earnings

MG News | August 28, 2019 at 03:56 PM GMT+05:00

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August 28, 2019 (MLN): Pakistan Stock Exchange (PSX) observed a 42% rise in its annual net income which grew from Rs.62 million (EPS: Rs.0.08 per share) last year to Rs.88.2 million (EPS: Rs.0.11 per share) for the year ending June 30, 2019.

As per the Exchange’s financial statement, its revenue jumped by merely 3.5% as it logged in at Rs.922.6 million. This increase was mainly driven by a 13.6% growth in interest income and 12.6% growth in listing fee.

However, increase in other expenses resulted in an operating loss of Rs.265 million which was 12.5% higher than last year.

These losses were turned into overall profits as the share of profit from associate logged in at Rs.343.6 million.

Profit and Loss Account for the year ended June 30, 2019 ('000 Rupees)
	Jun-19	Jun-18	% Change
Revenue
Listing fee	378,259	336,029	12.57%
Income from exchange operations	356,097	377,375	-5.64%
Mark-up/interest income	132,635	116,696	13.66%
Rental income from investment property	55,617	60,954	-8.76%
	922,608	891,054	3.54%
Operating cost
Administrative expenses	(1,187,580)	(1,126,400)	5.43%
Other charges	(75)	(344)	-78.20%
	(1,187,655)	(1,126,744)	5.41%
Operating loss	(265,047)	(235,690)	12.46%
Other income	13,658	5,529	147.02%
Share of profit from associates	343,638	343,242	0.12%
Net profit before taxation	92,249	113,081	-18.42%
Taxation	(4,065)	(51,043)	-92.04%
Net profit after taxation	88,184	62,038	42.15%
Basic and diluted earnings per share (Rupees)	0.11	0.08	37.50%

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