Freedom Holding Corp.'s revenue exceeded half a billion dollars in the second quarter of fiscal year 2025

Freedom Holding Corp. reported results for the second quarter of fiscal year 2025, which ended on September 30, 2024. The company's revenue amounted to $580.9 million, an increase of $145.3 million. The main growth drivers were:

— insurance underwriting income grew by 177%, reaching $160.3 million, driven by an increase in pension annuity and accident insurance contracts

— net profit from securities trading increased by 35% to $68.3 million, due to the sale of Kazakh sovereign bonds and unrealized gains of $65.9 million related to the increase in the value of securities

— net profit from currency operations amounted to $6.5 million, primarily due to positive results from currency transactions

— commission income increased to $121.1 million, mainly due to the growth of brokerage services.

At the same time, the holding's expenses rose by $151.5 million, which was associated with an increase in commissions, insurance payouts, salaries, and administrative expenses.

The company's net profit amounted to $114.5 million, and assets grew by 6.2% to $8.816 million. The number of brokerage accounts increased by 25,000, reaching 555,000 by the end of the quarter.

In addition, in September 2024, Freedom Telecom Holding completed the acquisition of SilkNetCom LLP for $23.9 million, expanding its telecommunications business in the field of provider services and network construction.