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.

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