Geojit BNP Paribas Q1 rev dips 18%, vol low due to flat mkt

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Geojit BNP Paribas Q1 rev dips 18%, vol low due to flat mkt

Geojit BNP Paribas' Q1 FY11 consolidated net sales dipped 18% at Rs 57.54 crore as compared to Rs 70.63 crore in the same period last year.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See latest News about Geojit BNP See previous management interviews See what other Experts & Brokerages are saying about Geojit BNP

Geojit BNP Paribas' Q1 FY11 consolidated net sales dipped 18% at Rs 57.54 crore as compared to Rs 70.63 crore in the same period last year. Profit after tax stood at Rs 6.19 crore as against Rs 13.25 crore, down 53%.  Earnings before interest, taxes, depreciation and amortization stood at 15.4% versus 26.52%.

On a QoQ basis, the consolidated revenues came in lower at 8% at Rs 57.54 crore as against Rs 62.28 crore. PAT stood at Rs 6.19 crore as compared to Rs 7.07 crore, a dip of 12.5%.

Speaking on the quarter gone by, CJ George, MD, Geojit BNP Paribas Financial Services, said the decline in retail volumes was due to flat markets.

The company, he stated, is focusing on its distribution strategy with a long-term perspective.

Here is a verbatim transcript of the exclusive interview with CJ George on CNBC-TV18. Also watch the accompanying video.

Q: There has been a dip both in revenues and profits sequentially, can you just walk us through what exactly happened on the retail market side in terms of a volume slippage you may have seen as well?

A: Compared to last year the top-line came down by 16% this is more because the retail volumes came down in the market in general. Over a period of last one year, the retail market volumes came down by 36%. Inspite of that our market share has gone up from 3.1% to 3.6% in retail volumes. So generally speaking much of it is due to the market volume impact. Compared to the previous quarter, it is by and large flat, we came down by 6% on the top-line.