Market data sales raise NSE profits to Sh18.4m

Nairobi Securities Exchange (NSE) logo on the trading floor. FILE PHOTO | NMG

The Nairobi Securities Exchange (NSE) reported a 34 percent increase in net profit to Sh18.4 million in the year ended December, helped by higher revenue from sale of market data.

Its turnover rose to Sh662.32 million from Sh642.76 million in the period, while expenses rose to Sh596 million from Sh550.9 million in 2022.

Despite a lower operating profit, the NSE was able to grow its bottom line due to a fall in its share of losses arising from its holdings in the Central Depository & Settlement Corporation Limited (CDSC) to Sh19.43 million from Sh46.54 million in 2022.

The NSE holds a beneficial stake of 40.5 percent in the CDSC.

“This growth is attributed to the non-trading income growth strategy adopted by the board during the year under review and a reduced loss from our associate holding in the central depository,” said the NSE in a statement on the financial results.

“Data income experienced commendable growth, with revenues increasing from Sh93.5 million in 2022 to Sh116.6 million in 2023. Equally, interest income increased from Sh104.4 million in 2022 to Sh120.9 million during the year under review.”

Other revenue lines saw a deterioration in the year, affected by reduced trading. Transaction levies from equities trades fell by 6.5 percent to Sh211.09 million while levies from bonds trading declined by 18.9 percent to Sh64.4 million.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.