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.

In a release Geojit said that, to enable BNP Paribas to raise its stake in the company, it has decided to surrender its membership in various commodity exchanges in the country.

BNP Paribas holds 27.18 percent stake in Geojit Financial Services.

The company has declared a final dividend of 70% on the paid-up value of Re.1 per share for 2007-08.