Geojit Financial Services Q1 net profit up 35%

Kochi: Geojit Financial Services has shown 35 % increase in net profit for the first quarter of 2017-18 year-on-year. The net profit stood at Rs 16.22 crore.

The consolidated revenues of the company touched Rs 84.11 crore, up 21 % from a year earlier. The profit before tax reached Rs 25.90 crore, a 30% increase. The company’s assets under custody and management stood at Rs 33,500 crore on June 30, 2017.

"The overall vibrancy in the capital market has helped increase the profit after tax and the company’s mutual fund distribution income has gone up by 20% compared with last year, ‘’ said C J George, managing director of Geojit Financial Services.

Geojit has a strong presence in the West Asian region via joint ventures and partnerships.