The Hindu : Business : JRG's net on the rise

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Saturday, Oct 28, 2006
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JRG's net on the rise

Staff Reporter

The revenue for the six months ended September 30, 2006, was Rs.22.04 crore

KOCHI: JRG Securities Limited has announced its financial results for the half year ended September 30, 2006. The net profit of the company rose by a substantial 183 per cent compared to the corresponding period of the previous year.

The consolidated net profit for the first six months of the year rose to Rs.251.41 lakh from Rs.91.06 lakh, a press release said.

Announcing the half yearly results, JRG Securities chairman T. M. Venkataraman said the company had been able to maintain sustained growth and momentum in tune with the good market conditions.

The gross revenue for the six months ended September 30, 2006, was Rs.2,203.62 lakh, an increase of 95 per cent over that of the previous corresponding period.

The company had a consolidated a gross income of Rs.2672.13 lakh in the last financial year and the net profit for the last full year was Rs.259.37 lakh.

JRG Wealth Management Limited, the subsidiary company engaged in commodity booking, and JRG Insurance Broking Private Limited engaged in insurance business, together have posted a gross income of Rs.1,008.29 lakh during the period against Rs.368.24 lakh of the previous corresponding period, recording a growth of 174 per cent. Reji Jacob, managing director of JRG Securities, said the driving factor to the excellent performance in the half yearly results was mainly due to the entry of large number of new investors into the capital and commodity markets.

He claimed that the nationwide network of branches and customer care services were attracting new investors.

JRG has nearly 500 offices in the country and West Asia. The company is one of the commodity players in Dubai Gold and Commodity Exchange Limited.

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