KUALA LUMPUR: Bursa Malaysia Bhd's net profit rose 25.1 per cent to RM241.2 million for the nine-month period ended Sept 30, 2024 (9M24), thanks to an increase in its operating revenue.
It posted a net profit of RM192.8 million in the previous corresponding period (9M23).
Bursa said this primarily stemmed from a 39.1 per cent surge in operating revenue from the securities market to RM411.8 million in 9M24 from RM296.0 million in 9M23.
Its total operating expenses rose 30.4 per cent to RM273.4 million in 9M24 from RM209.6 million in 9M23, mainly due to higher staff costs, IT maintenance and service fees.
"A one-off reversal of provision in 9M23 also contributed to the higher percentage increase in operating expenses in 9M24," it said.
Bursa said the securities market saw 52.9 per cent increase in trading revenue, reaching RM300.3 million in 9M2024 compared to RM196.4 million in 9M23.
The growth was attributed to higher average daily trading value for the securities market's on-market trades (OMT) and direct business transactions, which increased by 69.6 per cent to RM3.6 billion in 9M24 from RM2.1 billion in 9M23.
On the derivatives market, the trading revenue saw a 19.8 per cent increase to RM80.8 million in 9M24 from RM67.5 million in 9M23, driven largely by significant growth in the volume of Crude Palm Oil Futures and FTSE Bursa Malaysia KLCI Futures contracts, as well as by the higher number of trading days in 9M24.
As for the Islamic market front, operating revenue saw a marginal increase of 1.2 per cent to RM13.0 million in 9M24 from RM12.9 million in 9M23, due to revenue earned from the exchange's new product, the Bursa Gold Dinar.
Bursa chief executive officer Datuk Muhamad Umar Swift said the exchange remains committed in diversifying fundraising and trading opportunities for its valued stakeholders.
This includes broadening its product range by relaunching Single Stock Futures, and incorporating renewable energy certificates into the Bursa Carbon Exchange.
"The exchange is optimistic about meeting all five headline key performance indicators, including the pre-tax profit target that had been revised upwards in July 2024," he added.