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India budget 2021: Live coverage, panel discussions, analyses
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Geojit post 93% rise in net profit in Q3
January 30, 2021
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Geojit Financial Services has posted a 93 per cent rise in net profit at ₹30.60 crore in Q3 of the current financial year, as against ₹15.83 crore in the corresponding period of the previous year.
The profit before tax during the period increased 107 per cent at ₹40.63 crore, compared to ₹19.64 crore. The consolidated revenue increased 34 per cent from ₹78.31 crore to ₹104.61 crore.
As on December 31, the company’s Assets Under Custody and Management is ₹47,000 crore and has 11 lakh clients, the company said in a statement.
Higher volumes in the capital market transactions helped the company to improve performance during the current year, said C.J.George, Managing Director, Geojit Financial Services.
Will budget sops help India reach $5t economy goal?
India will make a push for growth in the forthcoming budget next month. Photo: Reuters
India’s economy is expected to contract 7.7 per cent in the current financial year ending on March 31.
The Indian government’s aim to make the nation a $5 trillion economy did encounter loads of challenges in 2020, despite multiple stimulus and sops to pare the impact of the novel coronavirus disease (Covid-19) outbreak to propel the economy towards growth.
Non-resident Indians (NRIs) globally have moved back home for multiple reasons and are now trying to find some foot in their bid to rehabilitate themselves. The trend did impact the real estate sector positively. Timely government intervention to keep lending rates at lowest, coupled with reduction in stamp duty, encouraged many developers to offer flexible payment plans.
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