Buoyed by Bullish Domestic Stock Market, NextTrade's Q1 Operating Profit Surges 132% QoQ
This year, buoyed by the strong performance of the domestic stock market, NextTrade (NXT) has continued to deliver solid results.
According to the financial investment industry and NextTrade on May 18, the company's operating profit for the first quarter of this year reached 34 billion won. This represents a 132% increase compared to the fourth quarter of last year, when operating profit was 14.6 billion won.
Net profit amounted to 34.9 billion won, a 70% increase from the previous quarter's 20.5 billion won. Having launched in March last year, NextTrade has now achieved its highest-ever quarterly operating profit and net profit.
Total assets grew by 19% in just the first quarter, rising from 150.8 billion won to 180.2 billion won. Operating revenue (sales) reached 45.8 billion won. While this is less than last year's annual sales of 64.4 billion won, it marks more than a tenfold (1,031%) increase compared to the first quarter of last year, when the business was just getting started.
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From May 4 to 15, NextTrade's average daily trading volume was recorded at 43.3174 trillion won. As of May 15, NextTrade accounted for 37.3% of the total trading volume in the domestic stock market, and on May 13, this figure soared to as high as 40.8%.
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