NGX Group’s Q2 profit soars 2,159% as revenue doubles

The Nigerian Exchange Group Plc has said its profit after tax jumped to N654.94 million for the second quarter of 2022 from N28.99 million in the same period a year earlier.

The holding company of the Nigerian Exchange Limited saw its revenue more than double to N2.15 billion from N1.04 billion in Q2 2021.

Its total assets increased to N57.37 billion in June from N37.87 billion at the end of last year, while total liabilities jumped to N18.57 billion from N3.75 billion, according to its unaudited financial statements.

Following the completion of the demutualisation of the defunct Nigerian Stock Exchange in March 2021, the NGX Group, a non-operating holding company, was created, with three operating subsidiaries, including the NGX, which is the operating exchange.

The other subsidiaries are NGX Regulation Limited, an independent securities regulator; and NGX Real Estate Limited, a real estate company.