Viva Republica, operator of mobile financial service Toss, posted roughly 70 billion won ($50 million) in operating profit in the first quarter, continuing its profitable run from 2024.
The company reported a consolidated operating profit of 70.9 billion won in the first quarter, turning to black on-year, in its quarterly earnings disclosure released Thursday. While its consolidated revenue jumped by 29.1 percent to 567.9 billion won on-year, its net profit stood at 48.9 billion won, turning to profit as well.
With the profit-earning first quarter, Viva Republica could continue its growth from last year, when the company swung to annual profit for the first time since its founding in 2013, with a consolidated net profit of 21.3 billion won.
Based on standalone earnings, its brokerage arm Toss Securities posted 156.9 billion won in revenue on the back of increased trading of overseas equity. Toss Income, a tax service subsidiary of Viva Republica, logged 8.9 billion won in revenue.
Parent company Viva Republica saw improved earnings, posting a standalone revenue of 157.3 billion won, marking a 34.6 percent jump on-year. Its operating profit and net profit in the period stood at 5.1 billion won and 52.4 billion won.
The company attributed the growth to the Toss app’s 24.8 million monthly active users.
“Balanced growth and improvement in profit structure led to improved earnings,” an official from Toss said. “We will continue sustainable growth with strengthened competence in key business areas and efficient management.”
silverstar@heraldcorp.com
