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Both total income and net profit of JM Financial zoomed 49 per cent year-on-year in the June quarter to ₹709 core and ₹128 crore, respectively. The spectacular performance has been led by its fund-based business followed by capital markets-related activities.
While the topline of the two businesses grew 44-53 per cent, profit jumped 53-76 per cent. While the fund-based business continued to gain traction — lending book and IPO financing business at ₹6,216 crore and ₹13,189 crore respectively, buoyancy in Indian capital markets along with a slew of initial public offers helped the respective businesses.
The lending book of JM Financial Credit Solutions stood at ₹5,678 crore as on June 30, 2017, comprising the real estate lending book of ₹5,517 crore. The highly profitable asset management business, though smaller compared to other businesses, also performed well with growth of 22 per cent and 40 per cent in revenues and segment profit, respectively.
The financial results were announced post-market hours and hence did not impact the stock price, which ended at ₹127, down 0.8 per cent, on the BSE.
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