JM Financial Q3 Profit Surges 46% to Rs 278 Cr

Mumbai, Feb 12 (PTI) JM Financial on Monday posted a 46 per cent rise in net profit to Rs 278 crore in the December quarter on the back of robust revenue growth.

In a statement, the company said both its topline at Rs 1,261 crore, which is more than 33 per cent over the same period last fiscal, and the bottomline at Rs 278 crore are the highest quarterly numbers.

A large contributor to the topline was equity broking where average daily turnover jumped 50 per cent to Rs 42,644 crore.

From the credit side, the loan book expanded 49 per cent year-on-year to Rs 1,759 crore.

The overall loan book declined to Rs 15,111 crore from Rs 15,234 crore year-on-year and from Rs 15,808 crore sequentially.

During the quarter, recoveries stood at Rs 405 crore, the company said, adding that gross Non-Performing Assets (NPAs) stood at 4.5 per cent as against 3.6 per cent in the year-ago period, while net NPAs were flat at 2.2 per cent.