TMX Q3 profit rises

Tue Nov 8, 2011 6:40am EST
 
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(Reuters) - Toronto Stock Exchange operator TMX Group (X.TO: Quote), which recently announced it would embrace a C$3.8 billion takeover offer by a Canadian consortium, reported a 21 percent rise in quarterly profit, helped by higher revenue from derivative markets trading.

Third-quarter net income was C$67 million ($65.9 million), or 90 Canadian cents per share, compared with C$55.2 million, or 74 Canadian cents per share.

Revenue rose 15 percent to C$167.8 million.

On October 30, TMX said it would back the offer by Maple Group, a collective of 13 banks, pension funds and other financial institutions.

($1 = 1.017 Canadian Dollars)

(Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila)