Dubai Financial Market announces 30% upsurge in Q1 2023 net profit to AED35.6 million

Dubai Financial Market announces 30% upsurge in Q1 2023 net profit to AED35.6 million

DUBAI, 28th April, 2023 (WAM) -- – Dubai Financial Market (DFM) announced its consolidated financial results for the first quarter of the year ending on 31st March, 2023 posting a 30 percent increase in its net profit to AED35.6 million, compared to AED27.5 million during the corresponding period of 2022.

DFM’s total consolidated revenue has increased by 13 percent to AED88.9 million in Q1 of 2023, compared to AED78.6 million during Q1 of 2022.

The revenue comprises AED47.4 million of operating income and AED41.5 million of investment returns and other income. Meanwhile, total expenses reached AED53.3 million compared to AED51.1 million during the same period in Q1 of 2022.

Commenting on the DFM’s strong performance, Helal Saeed Al Marri, Chairman of DFM, said, “As we announce DFM's Q1 2023 results, we are proud to say that we have started the year on a strong note. Our unwavering commitment to our investors, stakeholders, and customers has enabled us to navigate through a challenging environment and achieve growth.

He added, “DFM’s trading value reached AED19 billion during the first quarter of 2023 compared to AED22.8 billion during the corresponding quarter of 2022. The DFM General Index advanced 2.1 percent and the market capitalisation increased 2.4 percent