The consolidated revenue of Geojit BNP Paribas Financial Services for 2010-11 has fallen by 8 per cent from last year's corresponding number — from Rs 304 crore to Rs 281 crore.
The audited financial results states that the consolidated PBT went down to Rs 50.25 crore from Rs 76.80 crore. Consolidated net profit for the fiscal was Rs 29.02 crore as against Rs 46.18 crore for the same period last year — 37% lower. The company has also provided Rs 18.80 crore for taxes for 2010-11.
On a standalone basis, gross income went down by 6 per cent from Rs 288.18 crore to Rs 271.40 crore. Profit after Tax went down by 15 per cent from Rs 57.15 crore to Rs 48.73 crore. Earnings per share (Diluted) for the fiscal year ended March-11 (April-10 to March-11) on Re 1 a share is Rs 2.16.
The board of directors has approved the audited accounts for 2010-11 and has proposed a dividend of 75 paise on the paid-up value of Re 1 a share for 2010-11. The company had given dividend of 75 paise a share for 2009-10.
Mr C.J. George, Managing Director of Geojit BNP Paribas Financial Services, said, “During the year, although the standalone profit after tax came down only by 15 per cent, due to the losses in the joint venture with BNP Paribas for institutional broking in Bombay and the joint venture in Saudi Arabia, the consolidated profit after tax came down by 62 per cent. Barjeel Geojit Securities, the other joint venture company in UAE, continued to report excellent financial results.”
Geojit BNP's shares ended Tuesday's BSE trade at Rs 24.05 after shedding 0.21 per cent from the previous close.
The working of the company was affected by the drastic fall in market volumes in the cash equity segment of the stock exchanges.