Nine-month sales reach 1.36 trillion won

Commission revenue surges on domestic stock trading expansion

Trading volume growth, revenue diversification drive results

Toss Securities CEO Kim Gyu-bin [Toss Securities]
Toss Securities CEO Kim Gyu-bin [Toss Securities]

Toss Securities said Friday its cumulative operating profit for the first three quarters of this year reached 448.2 billion won ($336 million), approaching the company's full-year figure for last year.

Nine-month sales came to 1.36 trillion won, up 137 percent from the same period last year.

Cumulative operating profit rose 48.4 percent year on year, while net profit for the period climbed 41.4 percent to 332.2 billion won.

Third-quarter sales hit 515.1 billion won, up 134 percent from a year earlier, setting a new all-time quarterly record.

However, operating profit for the quarter dipped 3.4 percent year on year to 128.7 billion won amid heightened stock market volatility.

Commission revenue from domestic stock trading was a particular bright spot during the period.

Third-quarter domestic stock commission revenue surged 236.7 percent year on year to 30.98 billion won, compared with 9.2 billion won in the same period last year.

The jump reflects the full recognition of commission revenue starting in the third quarter, following the end of a domestic stock trading fee waiver promotion that ran from December last year through the end of June this year.

Trading volume itself also expanded sharply. Domestic stock trading volume in the third quarter grew roughly 3.6 times, from 66 trillion won to 237.08 trillion won. On a nine-month cumulative basis, domestic stock trading volume surged 509 percent — about sixfold — from 153 trillion won to 930 trillion won.

"Even as overall market trading volume declined in the third quarter, the addition of domestic stock commission revenue to the growth momentum from the first half allowed us to sustain cumulative profit growth," a Toss Securities official said. "We will work to reduce earnings volatility from market conditions by further diversifying our revenue streams."


jiyun@heraldcorp.com