Companies

Geojit clocks 95% rise in net profit in Q4 in FY21

Our Bureau Kochi | Updated on May 16, 2021

Dividend of ₹2 per equity share of ₹1 each

Geojit Financial Services Ltd has clocked a 95 per cent increase in its net profit at ₹36.76 crore in Q4 of FY21 against ₹18.83 crore in the corresponding period of the same quarter of FY20.

PBT went up by 92 per cent to ₹47.73 crore in Q4 in comparison ₹24.86 crore in the corresponding quarter of the previous fiscal.

The consolidated revenue in Q4 has gone up by 48 per cent to ₹122.56 crore in Q4 against ₹82.68 crore in the same quarter of the previous fiscal.

For the whole of FY21, the net profit has shot up by 163 per cent to ₹123.45 crore in comparison to ₹46.93 crore in FY20.

The Board has recommended a final dividend of ₹2 (200 per cent) per equity share of ₹1 each for the financial year 2020-21. The Board had declared an interim dividend of ₹1.5 per share in Nov 2020, which together makes a total dividend of ₹3.50 (350 per cent) per equity share of ₹1 each for the financial year 2020-21.

Satish Menon, Executive Director said, “The previous year was a challenge in terms of the pandemic, but the markets were resilient. Therefore, we were able to capitalise on the positive trend to increase our client base as well as enhance our online offerings. To further diversify our client offerings and consolidate our presence, the Board approved the proposal to form an entity in GIFT City to acquire an AMC license as an AIF Manager under IFSCA, subject to all applicable Regulations and Approvals.”

As on 31 March 2021, the company’s assets under custody and management stood at ₹51,000 crore. During FY 21, the company added 66,000 clients and now has 11,10,000 clients.

Published on May 15, 2021

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