PSX incurs loss of Rs5.63m in Jan-Mar

Published: April 19, 2018
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Low revenue, drop in share of profit from associated companies reasons. PHOTO: AFP

Low revenue, drop in share of profit from associated companies reasons. PHOTO: AFP

KARACHI: The Pakistan Stock Exchange (PSX) booked a loss of Rs5.63 million in the quarter ended March 31, 2018 compared to a profit of Rs38.66 million in the same quarter last year, according to a notice posted on Wednesday.

Low revenue and drop in share of profit from associated companies meant the PSX incurred the loss during the three-month period.

The loss per share was recorded at Rs0.01 in the quarter compared to earnings per share of Rs0.05 in the same quarter last year. PSX’s share price fell 1.93% or Rs0.48, to close at Rs24.38 with 163,500 shares changing hands.

PSX ends as world’s worst market in 2017

Revenue dropped 32% to Rs204.97 million from Rs300.12 million. The drop was seen due to receipt of low listing fee, income from exchange operations, service charges, interest income, rental income and no receipt of management fee in the quarter under review. Share of profit of associates decreased 24% to Rs78.75 million from Rs103.51 million.

Administrative expenses, financial and other charges increased to Rs279.22 million from Rs267.51 million.

Cumulatively in the nine months period, PSX booked a profit of Rs65.57 million (earnings per share of Rs0.08) which was 55% less compared to Rs146.64 million (earnings per share of Rs0.18).

Published in The Express Tribune, April 19th, 2018.

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