Business Business:Geojit Financial ServicesGeojit Financial ServicesIt announced its Q2 results on October 17, 2024, which showed significant year-on-year growth. Top revenue grew by 51.69%, while profit saw an impressive growth of 54.11%, marking a strong quarter for the company. Compared to the previous quarter, Geojit reported revenue growth of 20.74% and profit growth of 25.88%. This continued upward trend reflects strong operating performance and effective cost management. However, it is worth noting that there has been a significant increase in selling, general and administrative expenses, which have increased by 27.32% quarter-on-quarter and a staggering 52.14% year-on-year.
This increase in expenses could be a matter of concern for investors as it could impact profitability in future quarters. Operating income also showed positive momentum, growing by an impressive 27.22% quarter-on-quarter and 74.46% year-on-year. This growth in operating income is a testament to Geojit's strong market position and effective revenue generation strategies.
Earnings per share (EPS) for the quarter stood at ₹2.11, representing a growth of 39.05% year-on-year, further highlighting the company's financial health and commitment to delivering value to its shareholders. Geojit Financial Services has shown remarkable returns in the recent past, with a 9.46% return last week, a remarkable 108.88% return in the last six months and an impressive 111.02% year-to-date return. These figures highlight the company's potential for growth and flexibility in the financial markets. As of now, the market capitalization of Geojit Financial Services is ₹4145.41 crore, with a 52-week high of ₹159.37 and low of ₹46.10. The stock's performance reflects investor confidence and the company's strong fundamentals.
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