Geojit BNP Paribas Financial Services, one of India's leading retail stock broking firms, reported a whopping 202 per cent increase in net profit for the three months ended December last year.

C J George, Geojit BNP Paribas' managing director, announced that the company's third-quarter net profit jumped from Rs 4.3 crore in the October to December quarter of 2011 to Rs 13 crore in the corresponding period of 2012.

The company's consolidated income climbed 15 per cent to Rs 67.75 crore; while assets under custody & management reached above the Rs 14,000-crore mark for the first time in the company's history.

An exceptional income of Rs 36 crore on account of the company's stake sale in the JV with BNP Paribas for institutional broking sent PAT (profit after tax) up by 355 per cent, from Rs 14.66 crore to Rs 66.77 crore over the same period of time.

Announcing the results, Mr. George added, "Improvement in market conditions and efficient cost management helped the company to report better results for the quarter."

Mr. George also announced that the company's two JVs, viz. Kuwait-based BBK Geojit Securities KSCC and Oman-based QBG Geojit Financial Services, would become fully operations before the end of current quarter.

Stock in Geojit BNP Paribas gained more than 5 per cent in past two weeks and over 50 per cent in past one year.