Geojit BNP Paribas net profit for second quarter declines 38%

KOCHI: Geojit BNP Paribas has shown 38% drop in the net profit for the second quarter ended September 30,2015, compared with the same period a year ago. The net profit fell to Rs 12.42 crore from Rs 19.99 crore.

The consolidated revenues of the company decreased 12% to Rs 72.91 crore from Rs 82.42 crore. The profit before tax slid 31% to Rs 21.29 crore.

Geojit BNP Paribas managing director C J George said the company has improved its performance compared to the first quarter of the current year. During the quarter, the company entered into an MoU with its joint venture in Saudi Arabia, Aloula Geojit Capital Company to sell its 28 % stake.