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The consolidated revenues of Geojit BNP Paribas Financial Services have declined by 11 per cent to Rs 63.57 crore from Rs 71.38 crore for the second quarter ending September compared to the same quarter of the previous fiscal.
The net profit declined by 15 per cent to Rs 6.05 crore from Rs 7.08 crore during the period.
For the six months ended September 2011, the consolidated income of the company declined by 8 per cent to Rs 125.38 crore from Rs 135.84 crore for the same period of the previous year. The consolidated net profit declined by 22 per cent to Rs 10.3 crore from Rs 13.3 crore. However, compared to the first quarter of the current year, Geojit BNP Paribas' revenues went up by 3 per cent and net profit by 41 per cent.
Mr C. J. George, Managing Director said, “While we have seen a marginal improvement in top line and a significant growth in profitability on a sequential basis compared to the first quarter, the decline in stock market volume continues to be a matter of concern to us. Once the global financial and commodities markets settle down, we expect a sharp recovery of volumes in the Indian stock markets.” — Our Bureau
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