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Company News

TMX Group reports 65 pct drop in quarterly profit

Feb 13(Reuters) - TMX Group Ltd, owner of the Toronto Stock Exchange, posted a 65 percent drop in quarterly profit on Wednesday, weighed down by higher net finance costs and operating expenses.

The company said net profit fell to C$69.8 million ($52.66 million), or C$1.24 per share, for the fourth quarter ended Dec. 31, from C$202.3 million, or C$3.63 per share, a year earlier. TMX reported adjusted earnings per share of C$1.31 in the quarter, while revenue rose 22 percent to C$207.6 million. ($1 = 1.3255 Canadian dollars) (Reporting by Shradha Singh and Philip George in Bengaluru; Editing by Leslie Adler)

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