Geojit BNP Paribas on Monday reported a 83 per cent jump year-on-year in net profit at ₹14.97 crore for the third quarter ended December 31. Its profit stood at ₹8.17 crore in the year-ago period.
The company reported revenue of ₹75.51 crore (₹63.55 crore), up nearly 19 per cent.
In a release, Geojit BNP Paribas Managing Director CJ George said: “This financial year, we have been focusing on the retail distribution of Mutual Funds SIPs (systematic investment plans) due to which the company’s SIP book size year-on-year went up to ₹65 crore from ₹19 crore.”
Sequentially, the profit rose 9 per cent while revenues declined 4 per cent. Geojit added over 13,000 new clients during the quarter, and assets under custody and management stood at ₹29,000 crore as on December 31, 2016.
The company said it will soon be changing its name to ‘Geojit Financial Services’ in line with the new shareholder agreement with BNP Paribas.