SINGAPORE - Singapore Exchange Ltd said on Tuesday that net profit fell 16 pct in the fiscal first quarter as low volatility and a penny stock crash continue to weigh on share trading volumes.
SGX posted a net profit of S$78 million for the three months, down from S$92 million in the same period a year earlier.
The result was just above the S$77 million average forecast of five analysts polled by Reuters.
"The outlook for both the domestic and global markets remains uncertain amid recent turbulence," the exchange's chief executive Magnus Bocker said in a statement.
"Against this backdrop, the business environment is challenging".