Geojit Financial Services Q1 FY 24-25 Results and Business Overview

Geojit Financial Services Ltd announced its first-quarter results for the 2024-25 fiscal year. The company’s consolidated net profit is ₹46 crore.

Here are the consolidated financial highlights for Geojit Financial Services Ltd. for the quarter ended June 30, 2024:

As of June 30, 2024, Geojit Financial Services reported Assets Under Custody and Management totalling ₹1,03,350 crore, serving more than 14.12 lakh clients.

The company’s consolidated financial performance showed significant year-on-year growth: Revenue increased by 56% to ₹181.18 crore, EBITDA rose by 94% to ₹77.03 crore, Profit Before Tax (PBT) grew by 105% to ₹59.74 crore, and Profit After Tax (PAT) increased by 107% to ₹45.81 crore. However, compared to the previous quarter, these figures declined: Revenue by 13%, EBITDA by 8%, PBT by 10%, and PAT by 12%.

The Board of Directors has approved a proposal to raise funds up to ₹200 crore through a rights issue, subject to regulatory approvals. Details will be announced later on the company’s website and stock exchanges.

About Geojit Financial Services Ltd

Geojit Financial Services is a top investment services company in India with a significant presence in the Gulf Cooperation Council (GCC) region. The company serves around 1.412 million clients and operates a network of 500 offices, managing assets worth ₹1,03,350 crore. Key shareholders include BNP Paribas, founder and Managing Director C J George, the Kerala State Industrial Development Corporation (KSIDC), and Rekha Rakesh Jhunjhunwala. Geojit has established joint ventures and partnerships in the GCC, such as Barjeel Geojit Financial Services LLC in the UAE, BBK Geojit Business Consultancy and Information (KSCC) in Kuwait, and QBG Geojit Securities LLC in Oman. Additionally, it has a business partnership with the Bank of Bahrain and Kuwait in Bahrain.

On July 15, 2024, Geojit Financial Services Ltd’s share price opened at ₹109.50, touching the day’s high of ₹114.00 as of 09:48 AM on the NSE.

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