The Hindu : Business : Geojit BNP net profit up

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Saturday, May 29, 2010
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Geojit BNP net profit up

Special Correspondent

Announces a dividend of 75 paise for 2009-10

Kochi: The board of directors of Geojit BNP Paribas Financial Services has proposed a dividend of 75 paise on the paid-up value of Re.1 per share for 2009-10. The company had given a dividend at the rate of 50 paise for 2008-09.

The board approved the audited accounts for 2009-10 at its meeting here on Friday.

For the financial year 2009-10, the company's consolidated revenues had grown by 58 per cent from Rs.192 crore to Rs.304 crore. The consolidated profit before tax went up to Rs.77 crore from Rs.12 crore, while consolidated net profit rose to Rs.46 crore from Rs.2 lakh. The company also provided Rs.28 crore for taxes.

On a standalone basis, the gross income went up by 81 per cent from Rs.159 crore to Rs.288 crore. The total cost went up by 48 per cent from Rs.139 crore to Rs.206 crore. The profit after tax went up by 280 per cent from Rs.15 crore to Rs.57 crore. The earnings per share (diluted) on Re.1 per share is Rs.2.06.

C.J. George, managing director of the company, said: “We have aggressive plans to grow our portfolio management services (PMS) among high net worth resident individuals as well as non-residents. For the month of April 2010, the NAV of our portfolio grew by 12.17 per cent during the month when compared to a Sensex decrease of 0.75 per cent and CNX Nifty decrease of 0.22 per cent. On a trailing 12-month basis, the portfolio increased by 124.92 percent vis-à-vis 53.97 per cent increase in Sensex and CNX Nifty increase of 51.97 percent.

During the year, the assets under management of brokerage services, mutual funds and portfolio management services crossed the Rs.10,000-crore mark.”

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