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Company Financials

QUARTERLY RESULTS
ANNUAL REPORT

Consolidated
GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED
Reg.Office: 11th Floor, 34/659-P, Civil Line Road,
Padivattom, Kochi - 682024, Kerala
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER 2016
( ? In Lakhs )
Sr. No. Particulars For the Quarter Ended For the Half Year Ended Year Ended
30.09.2016 30.06.2016 30.09.2015 30.09.2016 30.09.2015 31.03.2016
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
1 Income from operations            
  a) Income from operations 6,923 5,944 6,157 12,867 11,840 23,039
  b) Other Operating Income 391 331 431 722 836 1,556
  Total Income from Operations (Net) 7,314 6,275 6,588 13,589 12,676 24,595
2 Expenses            
  a) Operating Expenses 1,532 1,172 1,259 2,704 2,353 4,613
  b)Employee benefits expense 2,634 2,278 2,274 4,912 4,528 9,263
  c) Depreciation & Amortisation Expense 350 343 320 693 606 1,295
  d) Other Expenses 1,273 1,154 1,287 2,427 2,463 5,725
  Total Expenses 5,789 4,947 5,140 10,736 9,950 20,896
3 Profit from Operations before Other Income, Finance Costs and Exceptional Item (1-2) 1,525 1,328 1,448 2,853 2,726 3,699
4 Other Income 774 676 703 1,450 1,210 2,601
5 Profit from Ordinary Activities before Finance Costs and Exceptional Item (3+4) 2,299 2,004 2,151 4,303 3,936 6,300
6 Finance Costs 11 13 22 24 45 84
7 Profit from Ordinary Activities before Exceptional Item (5-6) 2,288 1,991 2,129 4,279 3,891 6,216
8 Tax expense 783 635 785 1,418 1,423 1,792
9 Net Profit/(Loss) after tax (7-8) 1,505 1,356 1,344 2,861 2,468 4,424
10 Share of Profit / (Loss) in associate 1 (1) (1) - (2) (12)
11 Minority interests (135) (150) (101) (285) (173) (651)
12 Net Profit/(Loss) for the period (9-10-11) 1,371 1,205 1,242 2,576 2,293 3,761
13 Paid-up equity share capital (face value of `1/- each) 2,351 2,351 2,331 2,351 2,331 2,349
14 Reserves excluding revaluation reserves as per last balance sheet 46,656
17 Earnings per Share (of `1/- each) (not annualised)            
  a) Basic 0.58 0.51 0.53 1.10 0.99 1.61
  b) Diluted 0.58 0.51 0.53 1.09 0.98 1.61
See the accompanying notes to the financial results.
Notes:
1)Consolidated financial results cover the operations of Geojit BNP Paribas Financial Services Ltd., its subsidiaries in Geojit Investment Services Limited, Geojit Technologies Pvt Ltd, Geojit Credits Private Limited, Geojit Financial Distribution Private Limited, Geojit Financial Management Services Private Limited, Qurum Business Group Geojit Securities LLC, its joint venture in Barjeel Geojit Securities LLC, Aloula Geojit Brokerage Company, and its associate in BBK Geojit Financial Brokerage Company.
2) During the quarter ended 30th September 2015, the Company had entered into a Memorandum of Understanding (MOU) to sell its share of interest in the jointly controlled entity in Saudi Arabia . Pursuant to the MOU, the operating results of the aforesaid jointly controlled entity was not consolidated for the quarter and half year ended 30th September 2015. However, the MOU was cancelled due to expiry of time limit. Hence the figures for the quarter and half year ended 30th September 2016 are not comparable.
3)The group operates in only one business segment, viz., broking and financial services and its operations are located predominantly in India.
4) The above consolidated financial result of the Company for the quarter and half year ended 30th September 2016 was duly reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 3rd November 2016, and has been subject to limited review by the statutory auditors.
5) The change in paid-up share capital during the quarter and half year ended 30th September 2016 was on account of allotment of shares under ESOPs.
6) A scheme of amalgamation for the merger of Geojit Financial Distribution Private Limited and Geojit Financial Management Services Limited, two wholly owned subsidiaries, into Geojit Investment Services Limited was filed before the Honorable High Court of Kerala. The Honorable High Court vide an order dated 14 January 2016 directed that a meeting of Shareholders be held and pursuant to the same, a meeting of the shareholders was held on 10 March 2016 in which the scheme was approved by the shareholders. The said scheme is pending before the Court for its approval. These subsidiaries are not material to the consolidated financial statement, either individually or in aggregate.
7)Summary of Standalone Financial Results of Geojit BNP Paribas Financial Services Ltd. is as follows:
 
Particulars For the Quarter Ended For the Half Year Ended Year Ended
30.09.2016 30.06.2016 30.09.2015 30.09.2016 30.09.2015 31.03.2016
Unaudited Unaudited Unaudited Unaudited Unaudited Audited
Total income from operations 6,563 5,534 5,921 12,097 11,325 21,730
Profit from ordinary activities before tax 2,043 1,443 1,846 3,486 3,300 5,453
Net Profit/(Loss) after tax 1,376 936 1,241 2,312 2,182 3,560
8) During the quarter and half year ended 30th September 2016, the company has incurred an incremental gratuity provision amounting to Rs 337 lakhs on account of restructuring of salary.
9) The Nomination & Remuneration Committee at its meeting held on 4 August 2016, approved granting of 80,79,340 options to the employees of the Company at the exercise price of Rs. 41.60 per share in ESOP 2016 approved by the shareholders.
10) Earnings per share for quarter ended, have been calculated for the three months and not annualised.
11) Figures for the previous periods have been regrouped and/or reclassified wherever necessary to conform with the classification for the current period.
12) Standalone financial results are available for perusal at the web site of the Company and Stock Exchanges.