Business Daily from THE HINDU group of publications
Saturday, Nov 03, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Nov 03, 2007 ePaper | Mobile/PDA Version |
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Corporate Results
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Financial Services JRG Securities net up at Rs 1.73 cr Kochi, Nov. 2 The net profit of JRG Securities has grown by 163 per cent to Rs 1.73 crore (Rs 65 lakh) during the second quarter of the current fiscal. The gross income of the company grew by 96 per cent to Rs 11.66 crore (Rs 5.96 crore). Barings Private Equity India is to invest $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 relevant regulatory authorities. Announcing the results, the Chairman, Mr T.M. Venkataraman, said: "The company has been expanding rapidly across India and West Asia. There has been good growth in our NRI business and of course the financial markets have been very good in the last few months. Private equity from Barings Private Equity India into the company has also contributed to the company's good track record." - Our Bureau
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