Geojit BNP Paribas Q3 PAT up at Rs.13 crore

Geojit BNP Paribas Financial Services today (12 January 2013) announced its third quarter results for the fiscal year 2012-13 following the meeting of its Board of Directors at Kochi. For the quarter ended 31^st December, 2012 the consolidated income has gone up by 15% from Rs.58.78 crore to Rs.67.75 crore. Profit After Tax (PAT) for the comparable period has increased by 202% from Rs.4.3 crore to Rs.13 crore. During this quarter, the company’s Assets under custody and management crossed Rs.14,000 crore mark for the first time.

For the nine months ended 31^st December, 2012 the consolidated income has gone up by 5% from Rs.184.16 crore to Rs.192.81 crore. Profit After Tax (PAT) for the comparable nine month period has gone up by 355% from Rs.14.66 crore to Rs.66.77 crore, which includes an exceptional income received during the second quarter to the tune of Rs.36 crore on account of the sale of its stake in the JV with BNP Paribas for Institutional Broking.

Speaking about the results, Managing Director of Geojit BNP Paribas, C. J. George said, “Improvement in the market conditions and efficient cost management helped the company to report better results for the quarter.” He added, “Two joint ventures of the company, namely BBK Geojit Securities KSCC in Kuwait and QBG Geojit Financial Services LLC in Oman will start full commercial operations in the current quarter.”

About Geojit BNP Paribas Financial Services

Geojit BNP Paribas Financial Services (www.geojitbnpparibas.com) is one of the leading retail stock brokers in India, with a strong presence in the Gulf countries. Listed on the National Stock Exchange (NSE) and on the Bombay Stock Exchange (BSE), it has more than 6,63,848 clients, a network of over 525 offices and manages assets worth over Rs.14,365 crore. BNP Paribas is its main shareholder. 

Geojit BNP Paribas has an extensive presence in the Middle East region via joint ventures and partnerships. Barjeel Geojit Securities, its joint venture with the Al Saud group is headquartered in Dubai, in the United Arab Emirates, and owns branches in Abu Dhabi, Ras Al Khaimah, Al Ain, and Sharjah. Aloula Geojit Capital Co., the joint venture with the Al Johar group in Saudi Arabia is headquartered in Riyadh with branches in Dammam and Jeddah. BBK Geojit Securities KSCC, located in Kuwait, is a joint venture with Bank of Bahrain and Kuwait and JZA. QBG Geojit Financial Services LLC is the joint venture with Qurum Business Group (QBG) and National Securities Co. and based in Oman.

About BNP Paribas

BNP Paribas (www.bnpparibas.com) has a presence in 80 countries with nearly 200,000 employees, including more than 150,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across Mediterranean basin countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia-Pacific.