Geojit Financial Services Ltd said on Monday its board has approved forming a joint venture in the Sultanate of Oman in which it would invest 32 million rupees.
The JV, in which Geojit would have a 51 per cent stake, would be formed with The Financial Corp Co. SAOG, it said in a statement.
The JV will offer brokerage services and distribute financial products, it added.
Separately, Geojit said its consolidated net profit for the quarter to September declined 58.27 per cent to 52.2 million rupees, while revenue dipped 0.82 per cent to 506.1 million rupees. (ET)