Operating revenues surged 83 percent to P645.49 million, largely driven by strong growth in trading- and listing-related income, as well as contributions from newly consolidated PDS entities like the Philippine Dealing & Exchange Corp. and Philippine Depository & Trust Corp.
“The acquisition of PDS gives us another stable revenue source. But more than the consolidation of PDS numbers into PSE’s financial performance, this integration has always been intended to introduce synergies between the two exchanges to enhance the domestic capital market infrastructure," said PSE president and CEO Ramon S. Monzon.
Trading revenues jumped 84 percent to P222.60 million due to both higher activity in the equities market and PDS transaction income, while listing fees rose 49 percent to P171.19 million. PDTC alone contributed P139.28 million in depository account fees.
While total operating expenses nearly doubled to P339.14 million due to the consolidation of PDS, operating income still climbed 72 percent to P306.35 million.
However, overall profit growth was tempered by a 73-percent drop in other income to P32.23 million, reflecting weaker returns from financial assets amid ongoing market volatility.
PSE’s stake in PDS rose to 79.9 percent as of March this year and reached 91.6 percent by mid-May.
