Geojit posts Rs73.24 cr net profit for year; 200pc dividend

KOCHI: Geojit Financial Services has reported a net profit of Rs73.24 crore for the financial year ending March 31, 2018 compared with Rs56.02 crore the company generated for the previous period.

The profit after tax (PAT) for the fourth quarter ending March 31, 2018 at Rs19.28 crore was higher by 26 per cent compared with that for the corresponding quarter last year. Geojit board of directors has proposed a 200 per cent dividend at Rs2 per share with a face value of Re1.

While the revenue recorded by the company for the year under review was Rs367.95 crore against the previous year figure of Rs305.76 crore, the EBITDA was at Rs130.19 crore against Rs106.25 crore the company recorded for the same period last year.

The company’s assets under custody and management stood at Rs38,600 crore as on March 31, 2018. Speaking about the results, Geojit MD, C J George (shown in the picture) said the company’s continued focus on the retail distribution of Mutual Fund SIP saw its MF distribution income increase by 92 per cent year on year. “We have also added around 90,000 new clients during this year,” he added.

Geojit Financial Services is one of the leading investment services companies in India with a strong presence in the Gulf countries. It has over 9,34,000 clients and a network of 500 offices. Apart from CJ George, the founder and management of the company, the other prominent shareholders include BNP Paribas, Kerala State Industrial Development Corporation (KSIDC) and Rakesh Jhunjhunwala.

 

 

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