Its revenue, however, dropped 4.8% y-o-y to RM144.6 million from RM151.89 million in Q2 FY2022.
In a local bourse filing today, Bursa also announced that its profit after tax, zakat and minority interest (Patami) for the first half of 2023 (H1 FY2023) grew 3.9% y-o-y to RM132.42 million from RM127.44 million in the same period last year.
Revenue, meanwhile, dropped 5.1% y-o-y to RM301.1 million from RM317.19 million in H1 FY2022.
In its filing, Bursa attributed the increase in profits to a decline in operating expenses, which contracted 8.5% y-o-y to RM131.1 million in H1 FY2023 from RM143.2 million, due to a one-off reversal of provision.
Meanwhile, its securities market reported a trading revenue of RM126 million, decreasing 14.4% y-o-y compared to RM147.2 million in H1 FY2022.
The stock exchange attributed this to lower average daily trading value (ADTV) for on-market trades (OMT) and direct business trades (DBT), which stood at RM2.09 billion in H1 FY2023 against RM2.46 billion in H1 FY2022.
Bursa also said its trading velocity in H1 FY2023 had declined by 5% to 28% from 33% in H1 FY2022.
Notably, it added that funds raised through initial public offerings (IPOs) rose by 8.9% to RM2.3 billion from RM2.1 billion in H1 FY2022.
Optimistic outlook
Bursa chairman Abdul Wahid Omar said the local bourse is cognisant of the challenging global financial landscape which is marked by intensified risks and subdued external demands.
However, he said Bursa remains optimistic on the back of resilient domestic demand, anticipated increased investment flow to emerging markets, and the stock exchange’s multi-faceted strategies across its markets.
CEO Umar Swift reiterated the optimistic view, saying that the exchange is cautiously optimistic in meeting its headline key performance indicators for FY2023.
He said the exchange will intensify measures to drive market vibrancy, such as by making investments more affordable.
“These factors, coupled with the recently reduced stamp duty rate on the trading of shares, are poised to attract both local and international investors,” he concluded.
As at 5pm, Bursa’s share price was up by four sen or 0.6% at RM6.71, giving it a market capitalisation of RM5.43 billion.