KOCHI: Kochi-headquartered Geojit Financial Services Ltd has clocked a 95 per cent increase in its net profit at Rs 36.76 crore in the January-March quarter of 2021 as against Rs 18.83 crore in the corresponding period of the same quarter previous financial year.
The profit before tax of the company went up by 92 per cent to Rs 47.73 crore in the Q4 of FY21 in comparison Rs 24.86 crore in the corresponding quarter of the last year.
The consolidated revenue of the company in the Q4 of FY21 has gone up by 48 per cent to Rs 122.56 crore in the fourth quarter of FY21 as against Rs 82.68 crore in the same quarter of the previous fiscal.
For the whole of FY21, the net profit of Geojit Financial Services has shot up by 163 per cent to Rs 123.45 crore in comparison to Rs 46.93 crore in FY20. The company’s consolidated revenues went by 39 per cent to Rs 426.81 crore in FY21 from Rs 306.37 crore in FY20. The profit before tax of the company zoomed by 137 per cent to Rs 165.18 crore in FY21 as against Rs 69.62 crore in FY20.
The company approved its audited financial results for the quarter and the financial year ended 31 March, 2021, following the meeting of its Board of Directors on Saturday.
Geojit’s Executive Director, Satish Menon said, “The previous year was a challenge in terms of the pandemic but the markets were resilient. Therefore, we were able to capitalize on the positive trend to increase our client base as well as enhance our online offerings. To further diversify our client offerings and consolidate our presence, the Board approved the proposal to form an entity in GIFT City to acquire an AMC license as an AIF Manager under IFSCA, subject to all applicable Regulations and Approvals.”
The Board has recommended a final dividend of Rs.2/- (200 per cent) per equity share of Rs 1/- each for the financial year 2020-21. The Board had declared an interim dividend of Rs1.5 per share in Nov 2020, which together makes a total dividend of Rs 3.50 (350 per cent) per equity share of Rs1 each for the financial year 2020-21.
As on 31 March 2021, the company’s assets under custody and management stood at Rs. 51,000 crore. During FY 20-21, the company added 66,000 clients.