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Financial services company Geojit BNP Paribas reported a 51 per cent fall in net profit at ₹8.17 crore in Q3. The company had reported ₹16.55 crore net profit in the same quarter last fiscal.
The company’s consolidated revenues also decreased 16 per cent to ₹63.55 crore from ₹76.01 crore. Profit before tax also showed a 45 per cent decrease at ₹14.17 crore against ₹25.89 crore. Elaborating on the results following the board meeting, Geojit BNP Paribas Managing Director CJ George said, “In spite of the markets not performing as expected, during this quarter, we added over 23,000 new clients.”
The company’s assets under custody and management stood at ₹25,400 crore as on December 31, 2015.
The board approved the execution of a re-stated Shareholders’ Agreement to be signed between the company, BNP Paribas and the current promoters.
It also allotted 6.70 lakh equity shares of face value ₹1 each to employees of the company and subsidiaries upon exercise of stock options under ESOP 2010 and 2007.
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