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Geojit BNP Paribas' consolidated revenues rose four per cent to Rs 66.2 crore during the second quarter of this fiscal from Rs 63.57 crore in the same quarter of the previous fiscal.
The net profit increased to Rs 45.31 crore from Rs 6.05 crore. The PBT and exceptional item rose to Rs 18.52 crore from Rs 10.44 crore, an increase of 77 per cent.
The company has accounted for the exceptional income of Rs 35.97 crore arising from the sale of a substantial portion of its stake in the joint venture with BNP Paribas for institutional broking. This resulted in the jump in net profit during the quarter.
For the six months ended September 30, 2012, the consolidated income was comparable to the income of the previous year of Rs 125 crore.
Consolidated PBT before exceptional item went up by 71 per cent to Rs 32.18 crore from Rs 18.82 crore, while consolidated net profit went up to Rs 53.78 crore from Rs 10.35 crore.
C.J. George, Managing Director, Geojit BNP Paribas, said: “The sale of institutional broking business and overall control on cost helped the company to report better results during the quarter.
Although the market volumes increased significantly during the last one month, due to sluggish market conditions during most part of the last quarter, the revenues increased only marginally”, he said.
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