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  • Net Profit Doubled: Freedom Holding Corp. Reports Its Earnings for Q1 FY2022

Net Profit Doubled: Freedom Holding Corp. Reports Its Earnings for Q1 FY2022

In Q1 FY2022, which is the same as Q2 2021 April to June, Freedom Holding Corp. increased its earnings by 120%, the latter reaching $124M. This is mostly because the commission earnings increased by 125% to $97M, while the interest earnings grew by 325% to $18M.

The net profit also soared, namely by $28M against 2020, and reached $52M. In the meantime, earnings per share increased by $0.45 to $0.87, other aggregate income, by $22M to $55M, and assets and liabilities, by $109M and $52M, respectively.

Expenses also rose: total costs increased by$39M, while commission, interest, and operating ones went up by $12M, $11M, and $16M, respectively.

Freedom Holding increased employee salary and payroll costs, as well as expanded its business, which also boosted the number of clients and transactions. The short term financing did go up, too.

As of June 30, 2021, more than 330,000 accounts were opened, which is 40,000 more than on March 31, 2021.