JM Financial Net Profit Jumps 46% To Rs 278 Crore In Q3

JM Financial on Monday posted a 46% 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% 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% to Rs 42,644 crore.

From the credit side, the loan book expanded 49% 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% as against 3.6% in the year-ago period, while net NPAs were flat at 2.2%.