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Higher activity in the capital market and increased revenue from distribution business enabled Geojit Financial Services to register a 135 per cent growth in its net profit in the fourth quarter of FY17.
The profit after tax during the March quarter was ₹15.29 crore against ₹6.51 crore of the corresponding period of the previous fiscal. PAT for the financial year 2016-17 stood higher at ₹56 crore compared to ₹37.61 crore in FY 16.
“This financial year, we have been focussing on the retail distribution of mutual fund SIP due to which the company's SIP book size YoY went up from ₹19 crore to ₹89 crore. We have also added 52,000 new clients during the year”, said C.J.George, Managing Director, Geojit Financial Services.
The Board which met here on Friday has also proposed a dividend of ₹1.25 per share on the paid-up value of ₹1 per share, which is 125 per cent for 2016-17.
The company's consolidated revenues during the quarter stood at ₹79.86 crore, registering a 15 per cent growth. For the whole year, the figure was ₹305.76 crore, showing a 12 per cent increase. The assets under custody and management stood at ₹32,500 crore as on March 31, 2017.
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