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Geojit revenue crosses Rs.100 crores

Special Correspondent

The company has declared a final dividend of Rs.2.25 per share

KOCHI: Geojit Financial Services Limited recorded Rs.101.79-crore revenue and Rs.33.12-crore profit before tax for the year ended March 2006. After providing Rs.10.69 crores for tax, the net profit is Rs.22.71 crores.

The company has also declared a final dividend of Rs.2.25 per share.

Adding the earlier declared interim dividend of Rs.1.75, the total dividend is now Rs.4 or 40 per cent.

On the pre-bonus capital, this dividend works out to 80 per cent, says a press release.

Compared to last year, the revenue went up by 87 per cent, PBT by 109 per cent and net profit by 118 per cent.

The gross profit margin improved to 32.54 per cent (29.10 per cent) and the net profit margin to 22.31 per cent (19.10 per cent).

Impressive performance

Earning per share works out to Rs.15.4 compared to Rs.7.19 for the previous year.

The credit for this impressive performance from Geojit goes to the initiatives in branch expansion, technology and new products.

From 213 offices last year, the company has now 370 offices in the country.

Meticulous planning

This was made possible by meticulous planning, superior technology and a dedicated work force of 1,800 employees, claims the release.

Geojit's in-house technical expertise and manpower made it possible to expand its branch network in this short span of time.

Company's centralised processing and control systems take care of the huge volume of transactions without fail and error. Geojit with three lakh clients manages their Rs.5,000-crore worth of assets. Investments in internet trading facility has added to the year's performance. Now 20 per cent of the company's revenues are from internet trading. This platform accounts for 12 per cent addition of clients during the year.

The international business of the company has added ten per cent to the net profits of the company.

Joint venture Barjeel Geojit Securities LLC, based in Dubai, has a client base of 40,000 non-resident Indians.

This company with five offices in Dubai, Abu Dhabi, Sharjah, Oman and Doha employs 60 people, says the release.

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