Net profit of Geojit BNP Paribas Financial Services down by 15 %

KOCHI: The net profit of Geojit BNP Paribas Financial Services fell by 15 % to Rs 6.05 crore in the second quarter of the current fiscal from Rs 7.08 crore during the same period of the previous year.

The consolidated revenues of the company declined by 11% to Rs. ­­­­63.57 crore from Rs. 71.38 crore for the same quarter of the previous fiscal.

For the six months ended September 2011, consolidated income of the company declined by 8% to Rs. 125.38 crore. Consolidated net profit declined by 22% to Rs 10.3 crore from Rs 13.3 crore. However, compared to the first quarter of the current year, Geojit BNP Paribas’ revenues went up by 3% and net profit by 41%.

Commenting on the results, the Managing Director Mr. C. J. George said, ”While we have seen a marginal improvement in top line and a significant growth in profitability on a sequential basis compared to the first quarter, the decline in stock market volume continues to be a matter of concern to us.”