Geojit Financial Services Announces Q1 Results Consolidated Revenue at Rs 81.16 Crore
Sanjay Krishna | Myequity news | Date : 03-08-2018 8:50:00 IST
Geojit Financial Services Ltd on 02 August 2018 announced its first quarter results for fiscal year 2018-19 following the meeting of its Board of Directors at Kochi.
Consolidated Financial Highlights for the Quarter ended 30 June, 2018:(Rupees in Crores).
|Particulars||Q1FY 18-19||Q1 FY 17-18||Comparison (YoY)||Q4 FY17-18||Comparison (QoQ)|
Performance highlights for the quarter under review:
- Consolidated Revenues stood at Rs. 81.16 crore, down 4% YoY.
- Profit After Tax (PAT) is Rs. 12.67 crore, down 22% YoY.
The Company’s Assets under Custody and Management stood at Rs 37,600 crore as on 30th June 2018. In the last quarter, the company added 18,540 new clients.
Commenting on the results, Managing Director of Geojit Financial Services, C. J. George said, “The decline in stock market activity in the quarter has resulted in a marginaldecrease in revenues by 4% compared to last year. This along with increased recruitment of sales people and a rise in marketing expenditure mainly led to a decline in PAT by 22%YoY.”About Geojit Financial Services:
Geojit Financial Services (www.geojit.com) is one of the leading investment services companies in India, with a strong presence in the Gulf countries. Listed on the National Stock Exchange (NSE)and on the Bombay Stock Exchange (BSE), it has around 947,600 clients, a network of 515 offices and has assets under custody and management worth over Rs. 37,600 crore. BNP Paribas, C JGeorge, Founder and Managing Director of Geojit, Kerala State Industrial Development Corporation (KSIDC) and Rakesh Jhunjhunwala are the prominent shareholders of the company.
Geojit Financial Services has an extensive presence in the Middle East region via joint ventures and partnerships: Barjeel Geojit Securities in UAE, Aloula Geojit Capital Co., in Saudi Arabia,BBK Geojit Securities KSC, in Kuwait and QBG Geojit Securities LLC in Oman. The company also has a presence in Bahrain through a business partnership with Bank of Bahrain and Kuwait.