The Annual General Meeting of Geojit Financial Services held on 26 July 2008 in Cochin, presided over by Chairman Mr. A.P.Kurian, approved a dividend of 70 per cent for the financial year 2007-08. This would result in a payout of Rs.17.11 crores including the dividend distribution tax. Geojit had given a dividend of 40 per cent for 2006-07.
The AGM re-elected renowned investor Mr. Rakesh Jhunjhunwala and Mr. R. Bupathy, former President of Institute of Chartered Accountants of India as directors of the company after adopting the audited financial results of the company for the financial year 2007-08 along with the Directors' Report.
Reviewing the performance, Chairman Mr. A.P.Kurian said, “For fiscal year 2007-08, the company posted an impressive 133 per cent increase in its net profit to Rs. 58.66 crores and consolidated revenues went up by 76 per cent to Rs.239.73 crores. Barjeel Geojit Securities, Geojit’s joint venture in UAE, recorded an equally impressive growth of 150 per cent in its net profit for the same period.”
50 new branches were opened during the year by the company across the world. Also the company will commence operations in the institutional broking in a joint venture with BNP Paribas. The Saudi Arabian venture will also commence operations in this quarter.
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