Geojit BNP Paribas standalone profit zooms over three times

KOCHI: Geojit BNP Paribas posted a more than threefold jump in its standalone net profit for the fiscal first quarter, as a pickup in market sentiment and trading volume boosted the financial services company’s businesses.

The Kochi-based company’s Indian operations posted a net profit of Rs 20 crore for the quarter through June, compared with Rs 5.9 crore a year earlier. Revenue jumped 70% to Rs 77 crore.

Its consolidated numbers, which include the results of units in the Middle East, expanded at a slower pace. Consolidated net profit rose 43% to Rs 24 crore, while revenue grew 45% to Rs 86 crore. Year-ago consolidated results included a one-time item which had boosted the profit.

Along with the improvement in sentiment and volumes in the capital markets, higher software income from one of the subsidiaries also helped the company achieve better results, Managing Director CJ George was quoted as saying in a company news release.