Geojit Fin Services Q1 net up 35% at Rs 16 cr on robust capital markets

Overall vibrancy in capital market which increased PAT, MF distribution income was given credit

Helped by robust capital markets, Geojit Financial Services on Tuesday reported about 35 per cent jump in net profits at Rs 16.22 crore, for the first quarter of the current fiscal year.

The firm's profit stood at Rs 12.05 crore during April-June quarter in 2016-17, the company said in a statement.

Geojit's consolidated revenues stood at Rs 84.11 crore during the first quarter of 2017-18, an increase of 21 per cent from Rs 69.49 crore in the same period year-ago.

"The overall vibrancy in the capital market has helped increase the profit after tax and the company's mutual fund distribution income has gone up by 20 per cent compared to last year. Geojit will continue to sharpen its focus on its investment advisory business," Geojit Financial Services managing director C J George said.

The company's assets under custody and management stood at Rs 33,500 crore as on June 30, 2017.

With a strong presence in the Gulf countries, Geojit has around 8.78 lakh clients, a network of 515 offices. In the last quarter, the had added 16,500 new clients.