The Hindu Business Line : Geojit posts Rs 8.8-cr net; to pay 10% final

The total revenue of the company grew by 108 per cent to touch Rs 37 crore (Rs 17.7 crore), a press release from the company has said. The board of directors, which met at Kochi, has recommended an additional dividend of 10 per cent.

Along with the interim dividend of 15 per cent, this takes the total dividend declared by the company to 25 per cent. The overall spurt in growth has been attributed to the rapidly expanding pan-India office network of 164 offices across the country.

Geojit also has a joint venture in the UAE with offices in Dubai and Abu Dhabi, as well as a tie-up with Doha Bank in Qatar to provide investor services to NRIs. The client base of the company has grown to two lakh investors.

Geojit has also entered into commodity futures business last year through its wholly owned subsidiary, which has membership in the three leading commodity exchanges. Today, 18 commodities are being traded through more than 84 Geojit terminals across the country, through various exchanges. Rubber, pepper, gold and cardamom are the most actively traded commodities. The last fiscal saw a commodity turnover of Rs 2,200 crore traded through Geojit terminals and the revenue earnings were of the order of Rs 2 crore, the release said.