Geojit Financial Services’ shares increased by as much as 11.20 percent on Monday, reaching a new 52-week high of Rs 117.90 a share.
The company recorded a 107% year-over-year increase in net earnings to Rs 45.81 in the first quarter of the fiscal year 2024–25, which sent the share price skyrocketing. The business reported a net profit of Rs 22.08 crore for the same quarter.
From Rs 115.98 crore in the June quarter of FY 25 to Rs 181.18 crore in the equivalent period of the previous year, the company’s consolidated revenue increased by 56% YoY. However, in Q1FY25, revenues fell 13% sequentially.
In Q1FY25, the firm reported earnings before interest, tax, depreciation, and amortisation of Rs 77.03 crore, up 94% YoY from Rs 39.63 in the corresponding quarter the previous year.
The corporation has approximately 1.41 million clients as of June 30, 2024, and its assets under custody and management (AUM) were valued at Rs 1,03,350 crore.
The business also said that the proposal for collecting funds up to Rs 200 crore through the rights-issue of equity shares to the company’s eligible equity shareholders has been authorized by the board of directors. Which will be revealed at a later time, is the record date.