The Hindu Business Line : JRG group consolidated net rises 69%

Kochi May 22 The consolidated net profit of JRG Group has grown by 69 per cent to Rs 4.57 crore for the year 2006-07. The profit before tax was up at Rs 7.57 crore, as against Rs 4.19 crore in the previous year. The total revenue of the company grew by 84.5 per cent to Rs 49.32 crore.

Announcing the annual results, the Chairman, Mr T.M. Venkataraman, said that the company has been able to sustain growth with good profit margins. "The company continues to expand rapidly across India and West Asia ," he said.

The net profit of JRG Securities Ltd increased to Rs 3.96 crore on total revenue of Rs 27.23 crore, recording an increase of 83.05 per cent, a press release from the company said.

JRG Wealth Management Ltd, the subsidiary company that operates in the commodities market, posted a gross income of Rs 21.69 crore and a net profit of Rs 1.63 crore. The company accounted for 44 per cent of the consolidated gross income.

For the final quarter of last fiscal, the net profit of JRG Securities increased by 24 per cent to Rs 1.35 crore (Rs 1.09 crore). As part of the expansion plans, the company would be setting up 55 new branches across the country during the current year, Mr Regi Jacob, Managing Director, said.