The Nigeria Exchange Group (NGX) recorded a 58% surge in First Quarter (Q1) 2025 profit to N2.11 billion, largely due to a lower tax burden and finance costs.
Revenue for the period rose 16 percent to N4.57 billion, boosted by other income which increased 125% to N1.016 billion. All components of other income rose including Market Data income of N521.96 million, and Technology Income of N245.5 million.
The NGX saw a 55% decline in finance cost to N254 million in Q1, while income tax expense fell by 45 percent to N372 million.
This helped juice the bottom-line as profit for the period rose by 58% to N2.11 billion.
The NGX however reported a N567 million loss from its investment in an associate company NG Clearing. NG Clearing Limited is an associate company in which The Nigerian Exchange Group has a 27.7% ownership interest.
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