Geojit Financial Services: 150% Dividend Declared,PAT Surges 48%

Geojit Financial Services: 150% Dividend Declared,PAT Surges 48%

Geojit's consolidated revenue jumped to Rs. 624 crore from Rs. 448 crore in the previous fiscal year of 2022–23

Vikrant DurgaleUpdated: Tuesday, April 30, 2024, 08:18 PM IST
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Geojit Financial Services Q4 Results |

Geojit Financial Services, one of the top providers of investment services in India, is well-established throughout the Gulf Cooperation Council. It boasts a network of 500 offices, roughly 13.89 lakh clients, and Rs. 93,000 crore in assets under management.

Geojit's consolidated revenue jumped to Rs. 624 crore from Rs. 448 crore in the previous fiscal year of 2022–23. On the other hand, PAT saw a whopping 48 per cent increase to 149 cr compared to 101 cr in the previous year.

The company's assets under custody and management were valued at Rs. 93,000 crore as of March 31, 2024.

For the fiscal year 2023–2024, the Board has recommended a final dividend of Rs. 1.50/– (150%) per equity share of Rs. 1/– each.

The establishment of an entity in the Dubai International Financial Centre (DIFC) for the purpose of growing capital market business was also approved by the Board, with a maximum investment of USD 1 million.

Prominent investors in the business include BNP Paribas, Kerala State Industrial Development Corporation (KSIDC), Rekha Rakesh Jhunjhunwala, and C. J. George, the company's founder and managing director.

Through joint ventures and partnerships, Geojit Financial Services has a significant presence throughout the GCC: Barjeel Geojit Financial Services LLC in the United Arab Emirates, BBK Geojit Business Consultancy and Information (KSCC) in Kuwait, and QBG Geojit Securities LLC in Oman. Due to a business alliance with the Bank of Bahrain and Kuwait, the company is also present in Bahrain.

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