The Hindu Business Line : JRG Securities net grows 315 per cent

Kochi Jan. 31 The net profit of JRG Securities Ltd grew by 315 per cent to Rs 2.67 crore (Rs 64 lakh) for the third quarter of the current fiscal. The gross income of the company grew by 129 per cent to Rs 18.31 crore (Rs 7.99 crore).

Announcing the results, Mr T.M. Venkataraman, Chairman, said that the company has been able to scale up operations and come out with good results because of its focused approach.

Rapid expansion

“The company has been expanding rapidly across India and the Gulf countries and of course the financial markets have been very good in the last few months aiding the overall top-line of the company,” he said.

During the quarter, the equity capital of the company increased by 81 per cent. The standalone EPS on this extended equity has gone up to Rs 2.58 from Rs 2.04. The company has also accounted for a one-time expenditure of Rs 2.94 crore during the quarter, a press release from JRG Securities said.

Baring Equity India is investing up to $35 million through a preferential allotment and warrants for a minimum stake of 44.8 per cent in the company, subject to all the relevant regulatory approvals. For the nine months ending December 31, the net profit of the company grew by 130 per cent to Rs 5.98 crore (Rs 2.6 crore) while the total revenue grew to Rs 52 crore (Rs 35.9 crore).

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