Mumbai, May 16 (PTI) Kochi-based Geojit Financial Services today reported a 26 per cent growth in consolidated net profit at Rs 19.3 crore for the three months to March compared to the same period in the previous fiscal. Also Read - Malayalam Director Naranipuzha Shanavas Passes Away at 40, Doctors Declare Him Brain Dead
The company saw a 20 per cent growth in consolidated revenue at Rs 95.7 crore during the reporting quarter over the same period in the previous financial year. Also Read - Priyanca Radhakrishnan Becomes New Zealand's First-Ever Indian-Origin Minister
For the full year to March 2018, it reported Rs 73.24 crore in consolidated net profit, which is a 31 per cent growth over FY17, while consolidated revenue grew 20 per cent to Rs 367.95 crore, the company said in a statement. Also Read - After Kerala Transwoman is Harassed For Selling Biryani, The Internet Comes Together to Help Her
During the financial year, the company’s assets under custody and management stood rose to Rs 38,600 crore, it said.
The board has proposed a 200 per cent dividend payout or Rs 2 a share for FY18.
Founder and managing director CJ George attributed the performance to the continued focus on retail distribution of mutual fund SIP which saw the income from this business increasing by 92 per cent on an annualised basis. The company did not quantify this, though.
The company added around 90,000 new clients during this year, George added.
Geojit serves over 9,34,000 clients through its 500 offices, some of them in the five Gulf markets, and manages around Rs 38,000 crore.
Apart from George, its major shareholders include the French financial powerhouse BNP Paribas, the Kerala State Industrial Development Corporation and ace investor Rakesh Jhunjhunwala.
The Geojit counter closed 1.20 per cent up at Rs 98.80 on the BSE against a 0.44 per cent decline in the benchmark Sensex today.
This is published unedited from the PTI feed.