ISLAMABAD: The Pakistan Stock Exchange (PSX) announced a remarkable profit of Rs1.03 billion for fiscal year 2024, marking a staggering 368% increase compared to the previous year. This significant growth is detailed in the company’s financial results released on Wednesday, where it reported a profit of Rs219 million for FY23.
As a result of this performance, the earnings per share (EPS) rose to Rs1.28 in FY24, compared to just Re0.27 in the same period last year. The PSX also declared a cash dividend of Re1 per share.
Following the announcement, PSX shares surged, reaching a high of Rs15, and were trading at Rs14.32, reflecting a gain of Re0.38 or 2.73%.
The exchange’s revenue from listing fees, operational income, interest, and rental income from investment properties climbed to Rs2.12 billion, a nearly 45% increase from Rs1.46 billion in the previous year.
However, administrative expenses rose to Rs2 billion, up 27% from Rs1.57 billion in FY23. Despite this, PSX achieved an operating profit of Rs112.6 million, a turnaround from a loss of Rs110 million the previous year.
The exchange also reported other income and share of profit from associates amounting to Rs996.9 million, up 177% from Rs359.6 million in FY23. Consequently, profit before tax soared to Rs1.1 billion, up 345% from Rs249.5 million in the prior fiscal year.
Originally incorporated on March 10, 1949, the PSX transitioned to a public company limited by shares on August 27, 2012, under the Companies Act, 2017.
