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Kochi Jan. 31

The net profit of JRG Securities Ltd has grown by 120 per cent to touch Rs 1.08 crore (Rs 49 lakh) in the third quarter of the current fiscal. The total income of the company grew by 112 per cent to Rs 13.87 crore (Rs 6.55 crore).

Addressing a press conference to announce the results, Mr Regi Jacob, Managing Director, said: "While 50 per cent of the income came from stock broking operations, 40 per cent came from commodities derivatives market and 10 per cent from sectors like insurance, mutual funds, bonds, IPOs and distribution of other financial instruments." The consolidated net profit for the first nine months grew by 160 per cent to Rs 3.80 crore (Rs 1.46 crore).

JRG Commodities and insurance divisions together posted an income growth of 152 per cent and a profit growth of 209 per cent during the first nine months, Mr Giby Mathew, Executive Director said. Last week, JRG became a depository participant with Central Depository Services Ltd (CDSL) over and above National Securities Depository Ltd (NSDL). "This will drastically reduce the cost for the commodity traders since a majority of market participants are using the CDSL platform for commodity demat accounts," a press release said. "The company has been on a fast track of growth in the last one year, setting up new offices in India and West Asia," Mr T.M. Venkataraman, Chairman of the company said. JRG today has 496 trading centres across the country with a major presence in West Asia.

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