PSX reports 15.7% rise in net profits on the back of higher markup income

MG News | October 23, 2019 at 03:12 PM GMT+05:00

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October 23, 2019 (MLN): Pakistan Stock Exchange (PSX) ‘s net profits for the Quarter ended September 2019 has increased by 15.7% YoY from Rs 27 million in the same quarter last year to Rs 31.4 million.

The rise in profitability largely came on the back of a 9% increase in income generated from the listing fee and a 49% rise in markup income during the period.

On the other hand, a parallel decline in the company’s rental income by 24.8%, income earned from foreign exchange operations by 14% and profits from associated firms by 17.7%, put a limit to the bottom-line growth.

Moreover, the earning per share of the company locked in at Rs 0.04 per share, exhibiting a growth of 33% YoY.

Profit and Loss Account for the Quarter ended September 30, 2019 ('000 Rupees)
	Sep-19	Sep-18	% Change
Revenue
Listing fee	99,823	91,460	9.14%
Income from exchange operations	78,200	91,099	-14.16%
Mark-up/interest income	39,953	26,795	49.11%
Rental income from investment property	11,357	15,109	-24.83%
	229,333	224,463	2.17%
Operating cost
Administrative expenses	(272,474)	(289,032)	-5.73%
Other charges	(13)	(21)	-38.10%
	(272,487)	(289,053)	-5.73%
Operating loss	(43,154)	(64,590)	-33.19%
Other income	496	1,953	-74.60%
Share of profit from associates	74,906	91,101	-17.78%
Net profit before taxation	32,248	28,464	13.29%
Taxation	(785)	(1,286)	-38.96%
Net profit after taxation	31,463	27,178	15.77%
Basic and diluted earnings per share (Rupees)	0.04	0.03	33.33%

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