The Board of Directors of Emkay Share and Stock Brokers Limited, a leading stock broking company, today approved the company's audited financial results for the fourth quarter and for the financial year ended 31st March 2008. Consolidated revenues for the fourth quarter grew by 91% from Rs. 19.44 crores to Rs. 37.14 crores, while net profit showed a growth of 667% from Rs. 0.49 crores to Rs. 3.76 crores.
Mr. Krishna Kumar Karwa, Managing Director, Emkay Share and Stock Brokers Limited said, “It has been a year of robust growth with increasing market shares. We have reached a significant milestone of achieving a top line in excess of Rs.100 crores. This year we have also commenced Insurance Broking and Investment Banking as new business units that will begin contributing in the coming quarters. The capital markets have been very volatile in Q4 and the resultant slow down continues in the first quarter of the current year.”
Annual Performance Highlights
FY 2007-08 vs FY 2006-07
§ Consolidated revenues grew by 118% to Rs. 139.73 crores, from Rs. 64.10 crores in 2006-07
§ Consolidated Net profit moved up by 151% to Rs. 25.97 crores,from Rs. 10.33 crores in 2006-07
Mr Prakash Kacholia, Managing Director, Emkay Share & Stock Brokers Limited added, “We have always pursued our retail expansion prudently with focus on profitability rather than purely on numbers. The retail client base has increased from 27000 to 68000 this year. Our branch and franchisee network has grown from 171 to 299 across 101 cities. The next phase of retail expansion will be targeted at e-broking customers.”
Sourced From: Paradigm Shift Public Relations
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