The Hindu : Business : JRG Securities net profit up in Q3

Online edition of India's National Newspaper
Saturday, Feb 02, 2008
ePaper | Mobile/PDA Version

Business

Business

JRG Securities net profit up in Q3

K. Venkiteswaran

Expanding activities in West Asia

Gross income for the quarter stood at Rs. 183m
To scale up operations in retail segment

KOCHI: JRG Securities Ltd., stock and commodity brokerage house, has registered a 314.9 per cent increase in net profit amounting to Rs. 26.74 million for the quarter ended December 31, 2007, as compared to Rs.6.44 million posted during the corresponding quarter in last fiscal on standalone basis.

The gross income of the flagship company JRG Securities Ltd went up by 129.2 per cent to Rs.183.18 million from Rs.79.91 million in the previous quarter of the corresponding year.

The consolidated net profit increased 67.7 per cent from Rs.10.82 million to Rs.18.15 million.

For the nine-month period ended December 31, 2007, the revenue went up from Rs.199.45 million to Rs.389.06 million and the PAT shot up from Rs.26 million to Rs.59.84 million.

The consolidated gross income for the nine months went up from Rs.359.13 million to Rs.520.83 million and the PAT went up from Rs.35.62 million to Rs.59.47 million.

During the concluded quarter, the equity capital increased by 81.2 per cent. On the extended equity, the standalone EPS went up from Rs.2.04 to Rs.2.58. The company also accounted a one-time expenditure of Rs.29.4 million during this quarter.

Announcing the third quarter results on Thursday, JRG Securities Chairman T.M. Venkataraman said the company was able to scale up operations and come out with good results because of focussed approach.

“The company has been expanding rapidly across India and the Middle East. And, of course, the financial markets have been very good in the last few months aiding the overall topline of the company,” he said.

Barings Private Equity India is investing up to $35 million in JRG Securities through a preferential allotment and warrants for a minimum stake of 44.8 per cent in the company, subject to approvals from the regulatory authorities.

Regi Jacob, managing director of JRG Securities, said the company would aggressively continue to scale up operations in the retail and institutional investment segments and expand its reach

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

Business

News Update

Stories in this Section