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The consolidated revenues of Geojit BNP Paribas Financial Services for the financial year 2010-11 have come down by 7 per cent from Rs 304 crore to Rs 281crore. The profit after tax has come down by 39 per cent from Rs 46 crore to Rs 28.4 crore during the same period.
For the fourth quarter, the consolidated revenue came down by six per cent from Rs 68 crore to Rs 64 crore and the profit after tax by 61 per cent from Rs 7.48 crore to Rs 2.92 crore. During the quarter, the joint venture with BNP Paribas for institutional broking has reported a loss of Rs 4.6 crore.
Fall in volumes
Commenting on the results which was announced following the meeting of board of directors here on Tuesday, Mr C.J. George, Managing Director of Geojit BNP Paribas Financial Services, said, “During the period under review, despite increase in market share in the retail segment, an overall decline in retail market volumes coupled with the loss in the JV has led to a decline in profits.”
Geojit BNP Paribas has received the “Achievement Award” for its Mobile Trading Application — a new generation investment platform, at the recently concluded 3rd Annual Trade Tech India Conference 2011.
Mobile trading is receiving good response from investors with the volume and number of trades witnessing steady growth. The company will continue to invest in latest technologies for the benefit of its customers, he said.
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