The consolidated net profit of Geojit BNP Paribas Financial Services has drop down 6% to Rs 25.70 after reporting 61% year-on-year (y-o-y) drop, at Rs 2.92 crore for Q4 ended March 2011. There is also a cut down in revenues by 6% from Rs 68 crore to Rs 64 crore.

During the quarter a loss of Rs 4.6 crore has been reported by the joint venture with BNP Paribas for institutional broking. The company said in a filing to the stock exchanges that company has suffered decline in profits due to overall decline in retail market and loss occurred in the joint venture, although the market share in retail market is increasing.

BNP Paribas declares that for the year under review, revenues have come down by 7% to Rs 281 crore (Rs 304 crore) and profit after tax by 39% to Rs 64 crore (Rs 28.4 crore).

ON NSE, stocks opened at Rs 26.70 and hit a low of Rs 25.20.