Geojit records half yearly revenue of Rs 62.25 cr

Kochi, Oct 28 (UNI) Kochi-based Geojit Financial Services Ltd recorded a PAT of Rs 12.79 crore for the half year ended September 2006.

Income increased to Rs 62.25 crore and PBT to Rs 18.58 crore compared to Rs 44 crore and Rs 15.82 crore respectively for the previous half year, according to release today.

The company still maintains a high 65 percent return on capital employed.

Geojit Commodities Ltd, a wholly owned sibsidiary, recorded 258 percent rise in net profit. The company recorded Rs 2.58 crore net profit on Rs 11.34 crore income compared to Rs 72.35 lakhs PAT and Rs 3.78 crore revenue in the previous period. The revenue increased by 300 per cent compared to previous period.

According to Senior Vice President, in-charge of Commodities, C P Krishnan, ''the growth is due to expansion and additional business opportunities. The company doubled commodity terminals to 300 covering Tamil Nadu, Karnataka, Gujarat and Maharastra.'' Geojit has added 700 employees during the course of last one year, an increase of 53 percent compared to last year.

In a bid to expand the operation network, the company added 75 offices to its network to make a total of 385 offices across the country.

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