JM Financial's Profit Rises 19% Annually Amidst Income Dip

JM Financial reported a 19% year-on-year increase in profit after tax, amounting to Rs 232 crore for the quarter ending September 2024, despite a slight drop in total income. The diversified financial services group saw total income of Rs 1,211 crore, showing significant quarterly growth.

New Delhi witnessed a solid financial performance by JM Financial as the company reported a 19% rise in profit after tax, reaching Rs 232 crore for the quarter ending September 2024. This marks a significant increase from Rs 195 crore earned during the same period last year.

The diversified financial group, however, experienced a marginal decline in its total income, dropping to Rs 1,211 crore for the July-September quarter of FY25, compared to Rs 1,214 crore in the previous fiscal's same quarter. Despite this drop, the company excelled on a quarterly basis with an 11% growth in total income from the previous quarter.

JM Financial operates across various segments, including an integrated investment bank, mortgage lending, alternative and distressed credit, asset management, wealth management, and securities business, showcasing its comprehensive strength in the financial services sector.

(With inputs from agencies.)