Geojit BNP Paribas Financial Services has registered 202 per cent increase in profit after tax, touching Rs 13 crore from Rs 4.3 crore in Q3.

For the quarter ended December 31, 2012, the consolidated income has gone up by 15 per cent from Rs 58.78 crore to Rs 67.75 crore. The company’s assets under custody and management crossed Rs 14,000 crore mark for the first time during the quarter.

C.J. George, Managing Director, Geojit BNP Paribas, said “Improvement in the market conditions and efficient cost management helped the company to report better results for the quarter.”

He said two joint ventures of the company, namely BBK Geojit Securities KSCC in Kuwait and QBG Geojit Financial Services LLC in Oman will start full commercial operations in the current quarter.

For the nine months ended December 31, the consolidated income has gone up by 5 per cent from Rs 184.16 crore to Rs 192.81 crore.

The PAT for the comparable nine-month period has gone up by 355 per cent from Rs 14.66 crore to Rs 66.77 crore, which includes an exceptional income received during the second quarter to the tune of Rs 36 crore on account of the sale of its stake in the joint venture with BNP Paribas for Institutional Broking.

(This article was published on January 14, 2013)
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