PSX’s annual profit dives 43%

Pakistan Stock Exchange (PSX) – the company which is self-listed at its own trading platform – has reported that its net profit dropped 43% to Rs398.71 million due to decrease in income from associates, increase in administrative and other expenses and rise in tax payment in the year ended June 30, 2022.

The company had earned Rs696.71 million in the prior year that ended on June 30, 2021, according to its profit or loss account available on the PSX website.

Its earnings per share decreased to Rs0.50 in FY22 compared to Rs0.87 in previous year.

PSX’s share price fell 0.71% (or Rs0.07) to close at Rs9.82 with turnover of 419,500 shares on Thursday.

The company booked revenue of Rs1.45 billion in the year under review, which was slightly lower than the revenue of Rs1.46 billion in the previous year.

Its sources of revenue generation were listing fee, income from exchange operations, interest income and rental income from investment property.

However, its income from associates fell 19% to Rs494.39 million in FY22, compared to Rs607.83 million in the previous year.

Administrative expenses increased 5% to Rs1.42 billion in the year under review compared to Rs1.37 billion last year.

PSX incurred other expenses of Rs61.34 million in FY22 compared to other income of Rs22.34 million in the previous year.

The company paid taxes worth Rs61.42 million, which was almost 2.5 times of the taxes of Rs26.20 million paid in the previous year.

Published in The Express Tribune, September 23^rd, 2022.

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