Geojit Financial Services Ltd Share Price – NSE  /  BSE

Stock/ Commodity Brokers, Small Cap

Geojit Financial Services will hold a meeting of the Board of Directors of the Company on 30 April 2024.

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Net profit of Geojit Financial Services rose 52.00% to Rs 36.89 crore in the quarter ended December 2023 as against Rs 24.27 crore during the previous quarter ended December 2022. Sales rose 33.06% to Rs 152.22 crore in the quarter ended December 2023 as against Rs 114.40 crore during the previous quarter ended December 2022.

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Geojit Financial Services will hold a meeting of the Board of Directors of the Company on 31 January 2024.

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On the segmental front, equity and equity related income, which comprised of brokerage services, depository services and interest income from clinets, rose by 23% YoY to Rs 92.6 crore.

Financial product income, which included income from mutual fund distribution, insurance distribution and other distribution income, was Rs 31.19 crore (up 34% YoY) during the period under review.

Software income fell by 3% to Rs 2.35 crore in Q2 FY24 from Rs 2.42 crore in Q2 FY23.

Total expenses increased by 20% year-over-year to Rs 97.19 crore in the second quarter due to higher employee expenses (up 20% YoY), higher fees & commission expenses (up 34% YoY) and higher Other expenses (up 16% YoY).

EBITDA increased by 44% YoY to Rs 59 crore in Q2 FY24 from Rs 41 crore in Q2 FY23.

Profit before tax in Q2 FY24 stood at Rs 48.32 crore, up by 55% from Rs 31.16 crore in Q2 FY23.

As on 30 September 2023, the company’s assets under custody and management stood at Rs 79,240 crore with over 13.33 lakh clients.

Geojit Financial Services is one of the leading investment services companies in India, with a strong presence in the Gulf Cooperation Council (GCC) countries. It has over 13,33,600 clients, a network of 500 offices and has assets under custody and management worth around Rs 79,240 crore.

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