The Hindu Business Line : Geojit Comm full-year net rises 123%

Geojit Commodities has recorded a 123 per cent growth in net profit at Rs 4.88 crore for 2006-07, from Rs 2.19 crore in the previous year. Profit before tax grew to Rs 7.64 crore (Rs 3.28 crore).

Total revenue of the company, which is a major player in the commodity futures market, grew by 141 per cent to Rs 26.53 crore (Rs 10.98 crore). Earnings per share increased by 102 per cent to Rs 13.79 from Rs 6.84.

Following the record performance in deliveries last month, more than 60 per cent of the total deliveries in May, worth Rs 125 crore were carried out through Geojit Commodities, a press release issued here said.

Of the total 9,166 tonnes of rubber deliveries through NMCE, 5,915 tonnes were through Geojit Commodities, accounting for 64 per cent. Of the 3,510 tonnes of pepper deliveries, 2,366 tonnes were through Geojit Commodities accounting for 67 per cent.

Seventy per cent of rubber deliveries at MCX and 61 per cent of pepper deliveries through NCDEX were through Geojit, the release said.

The inherent expertise in the field of commodities and service-oriented mindset at Geojit are the prime reasons for this impressive performance, Mr C.P. Krishnan, Senior Vice-President of Geojit Commodities said.

Through its network of 400 branches, Geojit is active in equities, derivatives and commodities, with a strong footprint in the distribution of financial products like Mutual Funds, Life Insurance and IPOs.

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