Revision of listing fee boosts PSX’s profitability

February 26, 2020 (MLN): Pakistan Stock Exchange Limited (PSX) has reported net profits of Rs 120.5 million for the half-year ended on December 31, 2019, against the profits Rs 51.88 million reaped in the corresponding period of last year, marking a considerable jump of 132.24% YoY.

 This has translated into earnings per share of the company which exhibited an increase of 150% from Rs 0.06 per share to Rs 0.15 per share.

During the period, PSX revised its Annual Listing Fee for the companies and cut down subsidies on the facilities provided to the TREC & Non-TREC holders which resulted in an increase in its overall revenues by 9.67% YoY from Rs 448.5 million to Rs 491.9 million.

The revenues of the company collected from listing Fee rose by 18.33% YoY, revenues from interest income surged by 25.21% YoY due to higher interest rates and income earned from exchange operations increased by 1.47% whereas, its rental income from investment property declined by 21.47% YoY.

The share of profits from Associates grew slightly by 4%YoY in contrast to the corresponding period of last year due to higher profits reported by the associates also provided a boost to the company’s earnings.

Consolidated Profit and Loss statement for the half-year ended December 31, 2019 ('000 Rupees)

 

Dec-19

Dec-18

% Change

Revenue

 

 

 

Listing fee

 201,012

 169,873

18.33%

Income from exchange operations

 189,000

 186,269

1.47%

Mark-up/interest income

 78,664

 62,824

25.21%

Rental income from investment property

 23,225

 29,573

-21.47%

 

 491,901

 448,539

9.67%

Operating cost

 

 

 

Administrative expenses

 (559,217)

 (578,289)

-3.30%

Other charges

 (45)

 (32)

40.63%

 

 (559,262)

 (578,321)

-3.30%

Operating loss

 (67,361)

 (129,782)

-48.10%

Other income

 2,485

 7,364

-66.25%

Share of profit from associates

 185,835

 179,009

3.81%

Net profit before taxation

 120,959

 56,591

113.74%

Taxation

 (453)

 (4,703)

-90.37%

Net profit after taxation

 120,506

 51,888

132.24%

Basic and diluted earnings per share (Rupees)

 0.15

 0.06

150.00%

 

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Posted on: 2020-02-26T13:20:00+05:00

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