The Philippine Stock Exchange Inc., operator of the country’s stock market, said Monday that first-quarter net income was slightly lower at P203.2 million from P204.2 million due mainly to a decline in operating revenue, and higher cost and expenses.
Operating revenue in the first quarter, the PSE reported, was down 2.2 percent on year to P382.3 million. Listing-related fees were down 12 percent to P19.8 million while trading-related fees.
Cost and expense 9.3 percent to P172.7 million, with the bulk going to the cost of operating the exchange and salaries of staff.
The decline in revenue and higher costs was tempered by a 40 percent jump in other income to P39.1 million due mainly to penalties collected from listed companies.
