PSE’s Q1 net profit up 27.8%
MANILA, Philippines–The Philippine Stock Exchange’s first quarter net profit rose by 27.8 percent year-on-year to P184.81 million as the robust stock market boosted its trading, listing and other fee-based earnings.
Operating revenues went up by 18.14 percent to P263.41 million from a year ago.
Trading-related income, inclusive of the amount ceded to Capital Market Integrity Corp. as regulatory fees, increased by 17.17 percent as average daily turnover value jumped to P10.22 billion from P7.84 billion a year ago.
Listing-telated income also increased by 15.3 percent due to listing fees from initial public offerings, additional listings and listing maintenance fees.
Service fees generated by the Securities Clearing Corp. of the Philippines (SCCP) also increased by 24.1 percent due to the higher trading volume.
Other income increased by 44.48 percent to P65.67 million due to the improved performance of the P300-million equity funds being managed by two external fund managers.
Meanwhile, total expenses for the quarter went up by 15.45 percent to P108.3 million on higher compensation and staff-related costs and administrative expenses.
