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Geojit’s net profit up by 133%

Kochi: The net profit of Geojit Financial Services for 2007-08 went up by 133 per cent to Rs. 58.64 crore as compared to 2006-07. When compared to 2006-07, consolidated revenues for 2007-08 went up by 78 per cent to Rs.237.78 crore. The company has also provided Rs.28.98 crore for income tax for the fiscal year 2007-08.

The meeting of the Board of Directors held in Kochi has approved the unaudited accounts after limited review by the auditors.

For the fourth quarter of the fiscal year ended March 2008, consolidated revenues of the company rose by 77 per cent to Rs.64.11 crore from Rs.36.14 crore for the same quarter of the previous fiscal year while net profit shot up by 106 per cent to Rs.11.80 crore from Rs.5.74 crore. PBT rose to Rs.17.26 crore from Rs.9.6 crore, an increase of 80 per cent.

The sharp increase in revenue and profits is mainly on account of an 83 per cent increase in equities and derivatives and an 88 per cent increase in distribution income as compared to the previous fiscal year. The sharp increase in turnover and profits is also the result of the excellent performance recorded by Geojit’s joint venture company in the Gulf — Barjeel Geojit Securities L.L.C.

The Net Profit Margin for the quarter ended March 2008 was 18 per cent as compared to the same quarter in the previous year which was 16 per cent and for the fiscal year ended March 2008 it was 25 per cent. The Earnings Per Share (EPS) for the fiscal year ended March 2008 (April 2007 to March 2008) on Re.1 per share is Rs.2.86.

Geojit recently launched an online Technical Analysis Module based on world-class tools and expertise, with ongoing updation for the top 200 BSE scrips and NIFTY index.

Aloula Geojit Brokerage Company, Geojit’s joint venture with the Al Johar Group in Saudi Arabia, will become operational from May 2008. Barjeel Geojit Securities now has seven branches and is registering significant growth.

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Geojit’s net profit up by 133%

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