The Pakistan Stock Exchange (PSX) posted a significant profit of Rs1.03 billion for the fiscal year 2024, marking a remarkable 368% increase compared to the previous fiscal year. In FY23, the company had reported a profit of Rs219 million.
As per the financial results released on Wednesday, the company’s earnings per share (EPS) rose sharply to Rs1.28 in FY24, up from Re0.27 in the same period last year (SPLY). PSX also declared a cash dividend of Re1 per share.
Following the announcement, the share price climbed to Rs15 at the exchange, with the stock trading at Rs14.32, reflecting a gain of Re0.38 or 2.73% at the time of reporting.
During FY24, the PSX’s revenue from listing fees, exchange operations, interest income, and rental income from investment property increased by nearly 45%, reaching Rs2.12 billion compared to Rs1.46 billion in SPLY. However, administrative expenses also surged by 27%, rising to Rs2 billion from Rs1.57 billion in the previous year.
The PSX’s operating profit stood at Rs112.6 million for FY24, a significant turnaround from a loss of Rs110 million in the previous year. Additionally, the company registered Rs996.9 million in other income and share of profit from associates, representing an impressive 177% increase.
The company’s profit before tax surged by 345%, reaching Rs1.1 billion in FY24, compared to Rs249.5 million in the previous year.
Founded in 1949, the PSX has undergone significant changes, being re-registered as a public company limited by shares in 2012.
