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Broking business did well in Q3 and is coming out of its stagnant volumes, said Satish Menon, Executive Director, Geojit Financial Services.
Our focus has been on diversifying the business from just a stock broking company to asset-based fee model, said Satish Menon, Executive Director, Geojit Financial Services.
The yield on mutual fund distribution is higher than the brokerage business, and Investors, prefer mutual funds more than direct investments into the market, said Satish Menon, Executive Director, Geojit BNP Paribas.
Speaking to CNBC-TV18, Satish Menon, ED of the company said that if improved sentiments translate to numbers, then next two to three quarters will be good. Volumes in the secondary market improved in the first quarter.
CJ George, Managing Director of Geojit BNP Paribas told CNBC-TV18 that margins fell in Q3 due to appointment of large number of people.
United Spirits has posted a net loss at Rs 1,799.3 crore versus a profit of Rs 74.7 crore quarter-on-quarter
In an interview with CNBC-TV18, CJ George, managing director of Geojit BNP Paribas, spoke about the results and the road ahead for the company.
Retail broking firm Geojit BNP Paribas’ fourth quarter (January-March) net profit fell 61% year-on-year to Rs 2.11 crore, on the back of a 5% drop in revenues to Rs 58.56 crore, reflecting individual investors’ apathy to the stockmarket. For the full year, revenues were down 8% to Rs 256.3 crore and net profit by 38% to Rs 28.39.