iFast Corporation Q3 net profit jumps 97.3% YoY to $16.81m on strong revenue

Gross revenue for the period was $99.14m.

SGX-listed iFast Corporation saw its net profit soar by 97.3% YoY to $16.81m in Q3, driven by higher revenue.

In Q3, the company reported a 49.7% YoY higher gross revenue of $99.14m.

The company attributed the increase to iFAST Global Bank's (iGB) "encouraging progress."

In Q3, iGB's gross revenue soared by 139.9% YoY to $13.87m. It also cut losses by 61% YoY to $0.82m.

The company expects iGB to become an important growth driver in 2025 onwards.

With a higher net profit, iFast declared a 15.4% YoY higher dividend per share of $0.0150.

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