Kochi, April 12 (IANS) Geojit BNP Paribas Financial Services announced Friday that the BBK Geojit Securities KSC, a joint venture of the company in Kuwait with Bank of Bahrain and Kuwait, will be operational next month.
This was announced by C.J. George, managing director of Geojit BNP Paribas Financial Services, while declaring the company’s provisional fourth quarter and full year results for fiscal year 2012-13.
For the financial year ended March 31, 2013, the consolidated income of the company rose by two per cent to Rs.263 crore from Rs.257 crore for the same period the previous year.
The consolidated profit before tax went up to Rs.110 crore from Rs.48 crore, while the consolidated net profit for the fiscal was Rs.82 crore as against Rs.19 crore.
“During the year, an exceptional income of Rs.42.77 crore was realised on account of sale of stakes in a loss-making institutional broking joint venture,” said George.
Geojit BNP Paribas Financial Services is one of the leading retail stockbrokers in India, with a strong presence in the Middle East through joint ventures and partnerships.