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Geojit Financial Services has registered a 23 per cent growth in its net profit at ₹16.87 crore in the second quarter of FY18 compared to ₹13.71 crore in the corresponding quarter of the previous fiscal. The profit before tax is ₹26.92 crore, up by 18 per cent.
The consolidated revenues stood at stood at ₹87.44 crore, showing an 8 per cent increase. The company's Assets under Custody and Management stood at ₹34,900 crore as on September 30. In the last quarter, it added 22,000 new clients.
Commenting on the results, Managing Director of Geojit Financial Services, C.J George said, “The company's plan to grow its MF distribution business is progressing as planned. The revenue from MF distribution has grown by 113 per cent. This focus on advice-based distribution business has impacted the company’s market share in the broking business.
Geojit is one of the leading investment services companies in India, with a strong presence in the Gulf countries. It has over 8,94,000 clients and a network of 514 offices.
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