Tuesday, May 21, 2024
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Posts from Dubai Financial Market Profit Increased by 171% in the First Quarter.

For the first quarter of 2024, the Dubai Financial Market reported a 171% increase in net profit to Dh95.6 million before tax compared to the same period last year.

Consolidated revenue as a whole increased 64% to Dh148.1 million. This comprises Dh85.6 million in investment returns and other income in addition to Dh62.5 million in operating profits. The total expenses, tax excluded, came to Dh52.5 million as opposed to Dh54.8 million in the same period of the previous year.

DFM’s transaction value exceeded Dh25 billion throughout the period, compared to Dh19 billion in the first quarter of 2023.

The successful listing of Parkin, the first IPO of 2024, reflects our commitment to bringing more value assets to the market and fostering growth and diversification within the marketplace,” stated Helal Saeed Al Marri, chairman of DFM. The market’s confidence in our strategic path is further reinforced by the DFM General Index’s remarkable performance, which saw it improve by 4.59% and its market capitalization rise by 6% to Dh730 by the end of 2023.

Throughout the quarter, foreign investors remained significant at the exchange, accounting for 47% of the market share and Dh1.3 billion in net purchases. Market share of institutional investors in trade.

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