Dubai Financial Market announces 30% upsurge in Q1 2023 net profit to Dh35.6 million

Dubai Financial Market announces 30% upsurge in Q1 2023 net profit to Dh35.6 million

Revenue comprises Dh47.4 million of operating income and Dh41.5 million of investment returns

The DFM General Index advanced 2.1 per cent and the market capitalisation increased 2.4 per cent to Dh596 billion from its level at the end of 2022. - KT file

By WAM Published: Fri 28 Apr 2023, 12:43 PM Last updated: Fri 28 Apr 2023, 12:44 PM

Dubai Financial Market (DFM) on Friday announced that it posted a net profit of Dh35.6 million for the first quarter of the year ending on March 31, 2023, a 30 per cent increase compared to Dh27.5 million during the corresponding period of 2022.

DFM’s total consolidated revenue has increased by 13 per cent to Dh88.9 million in Q1 of 2023, compared to Dh78.6 million during Q1 of 2022.

The revenue comprises Dh47.4 million of operating income and Dh41.5 million of investment returns and other income. Meanwhile, total expenses reached Dh53.3 million compared to Dh51.1 million during the same period in Q1 of 2022.

Helal Saeed Al Marri, Chairman of DFM. - KT file

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