Major South Korean securities firm Meritz Securities Co. said Monday its first-quarter net profit rose 33.4 percent from a year ago on the back of good performance at its investment banking unit (IB) and solid returns from its investment.

Net profit stood at a quarterly record of 282.4 billion won ($224.9 million) in the January-March period, the company said in a regulatory filing.

Its operating income rose 32.4 percent on-year to a record high of 376.9 billion won in the quarter, and revenue soared 123.7 percent to 10.8 trillion won over the cited period.

The earnings hike came in spite of the global economic uncertainties from the U.S. Federal Reserve's policy tightening and the energy crunch from the Russia-Ukraine war.

Meritz Securities said its first-quarter earnings were boosted by good performances of its investment banking and returns from its investment in non-listed companies.

Its equity capital had come to nearly 5.4 trillion won as of end-March, up 634 billion won from a year ago. (Yonhap)