The Hindu Business Line : Geojit Commodities PAT zooms 105 pc

To capitalise the growing opportunity in the commodities business, Geojit Commodities, a wholly owned subsidiary of Geojit Financial Services Ltd, is pursuing a revenue target of Rs 18 crore for the financial year 2006-07.

Announcing the financial results of the company, Mr C.J. George, Managing Director, told newspersons that the commodities market would grow at a greater pace and the company is gearing up to meet the challenges. Efforts are under way to induct more trained employees and dedicating more branch network for the commodities business. Call centre facility and Internet platform are being provided for dynamic growth, he said.

He said the total income of the Geojit Commodities increased to Rs 1,011 lakh from Rs 612 lakh in the previous year, an increase of 65 per cent. The total expenditure for the year ended March 31 was Rs 731 lakh against Rs 467 lakh.

The profit before tax for the year 2005-06 is Rs 281 lakh against Rs 145 lakh, an increase of 93 per cent. The profit after tax is Rs 189 lakh against Rs 92 lakh, an increase of 105 per cent.

According to Mr George, Geojit Technologies Private Ltd one of the wholly owned subsidiary of Geojit Commodities generated a profit after tax of Rs 25.85 lakh.

More Stories on : Commodity Exchanges | Financial Performance

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