Geojit Financial Services reported a 31% decline in consolidated net profit to ₹19.83 crore for the quarter ended June 30, 2026, down from ₹28.67 crore in the corresponding period of the previous year. Revenue from operations rose 11% to ₹160.40 crore, while total income stood at ₹160.40 crore. The company’s Board of Directors approved the unaudited financial results at its meeting held on July 22, 2026.

Financial Performance

The wealth management segment drove the revenue growth. Total expenses for the quarter increased, primarily due to an ₹18 crore rise in employee cost driven by headcount expansion in sales, IT, and the DIFC subsidiary. Profit before tax stood at ₹25.99 crore, a decrease from ₹36.64 crore in Q1FY26. The basic and diluted earnings per share (EPS) for the quarter were ₹0.71, compared to ₹0.99 in the same period last year.

Consolidated Financial Highlights (₹ in Crore)

Operational Highlights

Customer Assets stood at ₹1.11 lakh crore as on June 30, 2026. The client base increased to 16.96 lakh, with 30,176 new clients added during the quarter. The Asset Management Business AUM stood at ₹1,778 crore, while Mutual Fund Equity AUM was ₹18,501 crore. The Monthly SIP Book remained healthy at ₹151 crore. Insurance Gross Premium stood at ₹103 crore, and the Lending Book stood at ₹755 crore. Employee Strength increased to 3,578.

Board Decisions and Appointments

The Board approved a succession plan, changing the designation of Mr. C J George from Chairman and Managing Director to Executive Chairman, effective October 1, 2026. Consequently, Mr. Jones George, currently Executive Director, was appointed as Managing Director for a period of five years effective from the same date, subject to shareholder approval. Mr. Jones George is the son of Mr. C J George and has been associated with the company since 2013.

M/s. B S R & Associates LLP resigned as the statutory auditor of Geojit Investments Limited, a material subsidiary of Geojit Financial Services Limited , effective from the close of business hours on July 21, 2026. The resignation is intended to align the statutory auditors of the subsidiary with those of its parent company, Geojit Financial Services Limited, due to the mandatory rotation of the auditor at the parent level. The current term of M/s. B S R & Associates LLP as statutory auditors of Geojit Financial Services Limited is scheduled to conclude at the Annual General Meeting on July 24, 2026.

The Board of Directors of Geojit Investments Limited, at its meeting held on July 21, 2026, approved the appointment of M/s. Price Waterhouse Chartered Accountants LLP to fill the casual vacancy caused by the resignation. This appointment is subject to the approval of the shareholders of Geojit Investments Limited under the applicable provisions of the Companies Act, 2013.

Auditor Transition Details

The outgoing auditor, M/s. B S R & Associates LLP, was appointed on July 14, 2025, and its term was originally scheduled to expire on March 31, 2030. The firm completed the statutory audit for the year ended March 31, 2026, and issued the audit report on April 29, 2026. The firm was also in the process of carrying out the limited review for the quarter ended June 30, 2026, for the consolidated financial results of the parent company.

The resignation was intimated to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The outgoing auditor confirmed that there were no material reasons for resignation other than the alignment with the parent company's audit firm and that there were no concerns or limitations reported prior to the resignation.