Geojit BNP Paribas profit down 33%

Consolidated revenue of the company went down 21% to Rs 52.49 cr

Retail financial services company, Geojit BNP Paribas, reported a 33 per cent fall in profit before tax (PBT) at Rs 12.50 crore for the second quarter ended on September 30, 2013 compared with Rs 18.51 crore for the corresponding period last year.

Its consolidated revenue was down 21 per cent at Rs 52.49 crore from Rs 66.21 crore. For the half year, PBT was down 10 per cent at Rs 29.13 crore as against Rs 32.18 crore for the same period of the previous year.

The board of directors decided to make full provision, in terms of RBI Prudential norms for NBFC, against its indirect exposure of Rs 131.34 crore in Geojit Credits.