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Our Bureau

Kochi Oct. 28

After providing Rs 6.14 crore towards taxes, Geojit Financial Services Ltd has posted a net profit of Rs 12.79 crore during the first half of the current year. Income improved to Rs 62.25 crore (Rs 44 crore) and gross profit to Rs 18.58 crore (Rs 15.82 crore), a press release from the company said.

The company maintains 65 per cent return on capital employed. Despite the low-volume trend in the market, it made a net profit of Rs 5.72 crore for the second quarter on an income of Rs 29.9 crore, after earmarking Rs 2.57 crore towards taxes.

Geojit Commodities Ltd, the wholly owned subsidiary, recorded a 258 per cent growth in net profit at Rs 2.58 crore (Rs 72.35 lakh) on an income of Rs 11.34 crore (Rs 3.78 crore).

The 300-per cent growth in revenue was due to expansion and additional business opportunities. The commodity terminals doubled to 300 covering Tamil Nadu, Karnataka, Gujarat and Maharashtra, leading to substantial addition to numbers and volumes from institutional clients, Mr C.P. Krishnan, Senior Vice-President, said.

The company continues to invest heavily in manpower, adding another 700 employees during the course of last year.

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