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Last Updated : Jan 30, 2017 09:03 PM IST | Source: PTI

Geojit BNP Paribas profits surge 83% to Rs 14.97cr in Q3

The firm's profit stood at Rs 8.17 crore during October-December quarter in 2015-16.

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Financial services firm Geojit BNP Paribas today reported a 83 per cent jump in net profits at Rs 14.97 crore for the third quarter ended December 31.

The firm's profit stood at Rs 8.17 crore during October-December quarter in 2015-16.

"This financial year, we have been focusing on the retail distribution of Mutual Funds SIPs (systematic investment plans) due to which the company's SIP book size year-on-year went up from Rs 19 crore to Rs 65 crore," Geojit BNP Paribas Managing Director C J George said.


"We have also added over 13,000 new clients during this quarter," George added.

The company's revenues rose nearly 19 per cent to Rs 75.51 crore for the period under review.

Besides, the company's assets under custody and management stood at Rs 29,000 crore as on December 31, 2016.

The company said it will soon be changing its name to 'Geojit Financial Services' in line with the new shareholder agreement with BNP Paribas.

Geojit BNP Paribas has more than 8,40,000 clients and operates through a network of over 509 offices. French financial services giant BNP Paribas is its main shareholder.


First Published on Jan 30, 2017 07:12 pm