India's brokerage firm Geojit Financial Services has registered 133% surge in its net profit for financial year 2007-08. The company has posted net profit of Rs 58.66 crore for the year ended March 2008, compared to Rs 25.21 crore last fiscal. The company’s consolidated revenues climbed 78% to Rs 238.31 crore from Rs 133.79 crore for the corresponding period last year.
In a separate release, the company has accepted French bank BNP Paribas's offer to buy 35% stake for Rs 60 crore in its fully owned software development unit Geojit Technologies Ltd.
Further, BNP Paribas will also pay Rs 40 crore to Geojit Commodities (GCL) or the company in compensation, for shutting down its commodities business, which is subject to applicable regulatory approvals.
