Geojit BNP Paribas Financial Services today announced its third quarter results for fiscal year 2011-12 following the meeting of its Board of Directors at Kochi. For Q3 of the fiscal year ended 31st December 2011, the consolidated revenue came down by 29% from 82.71 crore to 58.78 crore. PAT for the comparable period has come down by 65 % from Rs 12.20 crore to Rs 4.30 crore. Although the Company has, in principle, decided to sell its full share holding in BNP Paribas Securities India to BNP Paribas for Rs 40.5 crore, the transaction is yet to be completed. Therefore the company's share of the Joint Venture's loss of Rs 2.16 crore is also reflected in the quarterly results.
For the nine months ended 31st December, 2011 the consolidated income has come down by 16% from Rs 218.54 crore to Rs 184.16 crore. PAT for the comparable nine month period has come down by 42% from Rs 25.47 crore to Rs 14.66 crore. Here too, for the same reason as stated above, the company's share of the JV's loss of Rs 7.15 crore is reflected in the quarterly results.
CJ George, Managing Director, Geojit BNP Paribas said “The Company's performance in this quarter closely mirrors the broader market trends. The decline in market activity, in particular the decline in delivery volumes, has affected the company's performance. We, however, expect the markets to gain significant momentum once the Interest rates come down consequent to the easing of inflationary pressure.”