Geojit Financial Services Posts Rs. 81-Crore Profit in Q1
Kochi: Investment Management company Geojit Financial Services posted Rs. 81-crore profit in the first quarter of the financial year 2018-19. The results were released during a meeting of the director board held in Kochi on August 2.
In the first financial quarter of the year 2018-19 which ended in June, the company has grossed a net profit of Rs. 81 crore, with a 4 per cent dip as compared to the first quarter in the previous fiscal. The Q 1 results of the year 2017-18 was Rs. 84 crore. While profit after tax (PAT) for the current quarter is Rs. 12 crore, PAT in the corresponding quarter last year was Rs. 16 crore. As of June 30, 2018, wet worth of the assets managed by Geojit financial services is Rs. 37,600 crore.
The board meeting also resolved to accord board member status to Satish Menon, Executive Director, Geojit Financial Services and A Balakrishnan, Managing Director, Geojit Technologies Ltd. Balakrishnan is also the director of Barjeel Geojit Securities LLC, headquartered in Dubai. Satish Menon is also the director of BBK Geojit Securities headquartered in Kuwait. Both Balakrishnan and Satish have been the recipients of ‘Manager of the Year’ award instituted by Kerala Management Association (KMA).