Geojit BNP Paribas’ Q3 revenues up by 75%

Geojit BNP Paribas Financial Services today announced its third quarter results for fiscal year 2009-10 following the meeting of its Board of Directors at Bangalore. For Q3 of the fiscal year ended December 2009, Consolidated Revenues of the company rose by 75% to Rs 78.12 crore from Rs 44.62 crore for the same quarter of the previous fiscal. From a marginal Rs 1 crore loss (without considering Extraordinary Income of Rs.40 crore) in the corresponding quarter last year, the PAT has grown to Rs 12.39 crore. Profit Before Tax rose to Rs 20.47 crore from Rs 33 lakhs. The company has also provided Rs 7.41 crore for taxes for the third quarter of the fiscal year 2009-10.

For the nine months ended December 2009, Consolidated Income of the company rose by 65 % to Rs 235.75 crore from Rs 142.58 crore for the same period of the previous year. Consolidated PBT went up by 201% to Rs 63.75 crore from Rs 21.21 crore while Consolidated Net Profit for the nine months was Rs 38.70 crore as against Rs.10.96 crore excluding Rs.40 crores of Extraordinary Income.

Commenting on the results Mr. C.J.George, Managing Director of Geojit BNP Paribas Financial Services said, “The performance of the company has improved significantly compared to the corresponding quarter in the previous year mainly on account of increased activity in the Capital Market. Our Assets Under Management have crossed the Rs.10, 000 crore milestone. Among the many value-added services offered to our clients in this quarter a significant one is the mobile market watch that delivers real-time market information to the mobile phones of clients. This easy to use, secure and feature–rich service empowers the client on the move to take trading decisions and avail of the call and trade facility to execute his order. Clients can select from multiple channels for trading in mutual funds- they can avail our Advisory Services, trade online on the Exchange mutual fund trading system or call and trade via our Call Centre.”

Mr. George added, “The right product/s to meet a client’s financial requirements at the various stages in his life is now available under a single roof through our exclusive corporate tie-ups with Royal Sundaram and Metlife for general insurance and life insurance, respectively”.