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JM Financial has reported 24 per cent increase in profit to ₹72.35 crore in the first quarter ended June compared with ₹58.35 crore in the corresponding quarter last year.
Consolidated revenue was up 44 per cent to ₹383.02 crore from ₹266.40 crore.
Nimesh Kampani, Chairman, JM Financial Group, said, “The Indian economy is witnessing signs of improvement on the macroeconomic front, well supported by a rate cut, reduction in import bill on account of fall in the prices of crude oil and gold. We are optimistic of further improvement in the economy driven by a lower rate regime and greater public targeted spending.”
In the wealth management business, the assets under management stood at ₹20,205 crore as on June 30..
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