South Korea’s Toss Securities Co. announced on Thursday that its net profit reached 64 billion won ($45.6 million) in the first quarter, marking a more than fivefold increase over the past year.

According to Toss Securities, operating revenue reached a quarterly record of 156.9 trillion won in the first quarter, up 96 percent from the same period a year ago.

Its operating profit surged 576 percent to 83.2 billion won.

The surge came on robust growth in its overseas stock brokerage business.

Overseas stock trading volume jumped 208 percent year-over-year in the first quarter.

The surge fueled a 206 percent rise in trading commission income and a 155 percent increase in foreign exchange commission income.

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