KARACHI: Pakistan Mercantile Exchange Limited (PMEX), the country’s only multi-commodity futures exchange, has reported profit of Rs38.817 million for the first half of FY19 as compared to Rs12.342 million for the corresponding period of FY18, posting an increase of 214.5 percent.
The operating income of the exchange grew to Rs171.391 million from Rs118.732 million during the period under review, posting an increase of 44.35 percent, a statement said on Wednesday.
The increased profitability could primarily be attributed to growth in trading volume, which grew to Rs1,577.09 billion in the first half of the current financial year, from Rs639.46 billion for the same period last year, posting an increase of 146.63 percent.
The exponential growth in trading volume was the accumulative result of expansion of product suite, induction of new members and liquidity providers and introduction of world renowned trading terminal – MetaTrader 5.
[the_ad id=”32940″]Commenting on the financial performance, Ejaz Ali Shah, managing director, PMEX, said, “We are delighted to report an outstanding performance in the first half of FY19.
The results indicate that the positive trend from FY18 is continuing.”