Geojit Financial Share Zooms Over 12% After Posting 107% Jump In Net Profit

Geojit Financial Share Zooms Over 12% After Posting 107% Jump In Net Profit

Geojit Financial Services' shares increased by as much as 11.20 percent on Monday, reaching a new 52-week high of Rs 119.40 per share.

Vikrant DUpdated: Monday, July 15, 2024, 01:30 PM IST
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Geojit Financial Services' shares increased by as much as 11.20 percent on Monday, reaching a new 52-week high of Rs 119.40 per share.

Net profit

Year-over-year basis

The company reported a 107 per cent year-over-year increase in net profits to Rs 45.81 crore in the first quarter of the fiscal year 2024–25, which sent the share price skyrocketing. The business reported a net profit of Rs 22.08 crore for the same quarter of the previous year.

Quarter over Quarter

From Rs 115.98 crore in the June quarter of FY 25 to Rs 181.18 crore in the corresponding quarter of the previous year, the company's consolidated revenue increased by 56 per cent YoY. However, in Q1 FY25, revenues fell 13 per cent sequentially.

EBITDA Q1 FY25

In Q1 FY25, the brokerage reported earnings before interest, tax, depreciation, and amortisation of Rs 77.03 crore, up 94 per cent YoY from Rs 39.63 in the corresponding quarter the previous year.

The company had over 1.41 million clients as of June 30, 2024, and its assets under custody and management (AUM) were valued at Rs 1,03,350 crore.

Geojit financial services

Geojit financial services |

Rights issue for fund raise

The company also declared that the proposal for raising funds up to Rs 200 crore through the rights-issue of equity shares to the company's eligible equity shareholders has been approved by the board of directors. Which will be revealed at a later time, is the record date.

Share performance

Geojit Financial Services' shares were trading 11.51 per cent higher at Rs 118.45 a share at 12:38 PM. The company's share touched a life high of Rs 119 per share

In contrast, the BSE Sensex was up 0.21 per cent at 80,687 points. The NSE Nifty was up 0.34 per cent trading around 24,585 points; the index was up at 83.75 points.

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