The Hindu : Business : Geojit Commodities net up by 123 per cent

Online edition of India's National Newspaper
Tuesday, May 29, 2007
ePaper

Business

Business

Geojit Commodities net up by 123 per cent

Special Correspondent

KOCHI: Geojit Commodities, a leading player in commodity futures market in the country, has posted 123 per cent growth in net profit for the year ended March 31, 2007, up from Rs.2.19 crore in the previous year to Rs 4.88 crore. Profit Before Tax soared to Rs 7.64 crore from Rs 3.28 crore. Total revenue also registered a quantum leap of 141 per cent to Rs. 26.53 crore from Rs.10.98 crore. Earning per share increased 102 per cent to Rs.13.79 from Rs.6.84.

Following the record performance in deliveries last month, more than 60 per cent of the total deliveries in May 2007, valued at Rs.125 crore, which is an all- time high, were also carried out through Geojit Commodities Ltd. Out of 9,166 metric tonnes of rubber delivery taken place through the NMCE, 5,915 metric tonnes were effected through Geojit (64 per cent of the total delivery). Of 3,510 tonnes of pepper delivery in NMCE, 2,366 tonnes were made possible through Geojit (67 per cent of the total delivery). In the case of other National Commodity Exchanges, 70 per cent of rubber delivered in the MCX and 61 per cent of pepper delivered in the NCDEX took place through Geojit.

Geojit Commodities senior vice-president C.P. Krishnan attributed the company's impressive performance to expertise in the field and service-oriented mind set. Geojit is a broker active in cash equities, derivatives and commodities with a strong foothold in the distribution of financial products such as Mutual Funds, Life Insurance and IPOs. The company has a network of 400 branches across the nation. Recently the French banking major, BNP Paribas, took 27 per cent stake in the company.

Printer friendly page
Send this article to Friends by E-Mail

Business