Share price of this small-cap stock moved up by 14.8 percent on BSE to hit an intraday high at Rs. 111.01 in the trading session of Thursday, compared to its previous closing price of Rs. 96.67, after reporting a rise in the net profit by 73 percent YoY and 37 percent QoQ.
With a market capitalisation of Rs. 2,606.7 crore, at 12:25 p.m. the shares of Geojit Financial Services Limited were trading in the green at Rs. 108.69, up by 12.43 percent.
The fluctuations in the share prices were observed after the company announced its financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges.
The consolidated revenue from operations of the company stood at Rs. 208.12 crore in Q4 FY23-24, increasing by 36.7 percent QoQ from Rs. 152.21 crore in Q3 FY23-24 and 87.8 percent YoY from Rs. 110.8 crore in Q4 FY22-23.
The net profit increased by 37 percent from Rs. 38 crore in Q3 FY23-24 to Rs. 52 crore in Q4 FY23-24, whereas, the same grew by nearly 73 percent from Rs. 30 crore in Q4 FY22-23 to Rs. 52 crore in Q4 FY23-24.
As of 31st March 2024, the company’s assets under custody and management stood at Rs. 93,000 crore.
Further, the Board of Geojit Financial Services has recommended a final dividend of Rs. 1.50 per equity share of Re. 1 each for the financial year 2023-24.
The Board also approved an investment of up to Rs. 8.34 crore (or $1 Million) to establish an entity in Dubai International Financial Centre (DIFC) for expanding capital market business.
One of the leading investment services companies in India, Geojit Financial Services offers a full range of financial services including online broking for equities, derivatives and currency futures, custody accounts, financial products distribution, portfolio management services, margin funding, and other financial services.
The company has a strong presence in the Gulf Cooperation Council (GCC) region through several joint ventures and partnerships, along with a presence in Bahrain via a business partnership with the Bank of Bahrain and Kuwait.
Written by Shivani Singh
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