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Our Bureau

Kochi, Oct. 12 The net profit of Geojit BNP Paribas has increased by 150 per cent to Rs 13.06 crore (Rs 5.22 crore) for the second quarter ending September 2009 of the current fiscal.

The board, which met at Kochi, said that the consolidated revenue rose by 60 per cent over last year to Rs 80.95 crore (Rs 50.61 crore).

The profit before tax rose by 110 per cent to Rs 22.11 crore (Rs 10.54 crore).

The company has provided Rs 8.52 crore towards taxes during the period.

The Managing Director, Mr C.J. George, said: “Favourable market conditions and renewed investor confidence has contributed to the significant growth in our revenues. “We have added 68,000 clients over the past 12 months, and we expect to see these numbers growing in this financial year.

“As a part of our strategic branch expansion, we have opened new branches in North India, Gujarat, West Bengal and Orissa in order to reach out to local investors.”

For the six-months ended September, the consolidated income rose by 61 per cent to Rs 157.63 crore (Rs 97.96 crore). Consolidated PBT went up by 107 per cent to Rs 43.28 crore (Rs 20.88 crore), while net profit went up by 113 per cent to Rs 26.31 crore from Rs 12.33 crore.

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