Geojit BNP Paribas Q2 profit grows 10% to Rs 13.7 cr

Geojit BNP Paribas Financial Services today reported a 10 per cent rise in net profit at Rs 13.71 crore for the September quarter.
Its retail distribution of mutual fund SIPs has started showing positive results, the company said.
The financial services firm's profit stood at Rs 12.42 crore for July-September in the last fiscal, as per the company's statement.
Geojit BNP Paribas revenues rose 11 per cent to Rs 80.88 crore during the second quarter of 2016-17 over the same period a year ago.
"The company's focus on the retail distribution of Mutual Fund SIPs has started showing positive results. During this quarter, our SIP book size grew to Rs 41 crore from Rs 19 crore at the beginning of the first quarter," said Geojit BNP Paribas MD C J George.

"In the second quarter, the company made a one-time incremental gratuity provision of Rs 3.37 crore on account of salary restructuring," he added.

The operating revenues from the company's subsidiary, Geojit Technologies, has gone up by 21 per cent to Rs 6.18 crore, from Rs 5.11 crore in the same quarter of the previous fiscal.
Besides, the firm's assets under custody and management stood at Rs 30,000 crore as on September 30 this year.
Geojit BNP Paribas has over 8.4 lakh clients and a network of over 509 offices in the country.