Financial services provider JM Financial today reported a 79% decline in its net profit to Rs 5.9 crore for the fourth quarter ended March 2011, compared to Rs 27.9 crore of the year-ago period.
Income also declined to Rs 15.9 crore during the January-March period of FY11 from Rs 34.2 crore in the corresponding period an year ago, JM Financial said in a filing to the Bombay Stock Exchange.
The company, however, recommended a dividend of 60% on the face value of Re 1 each for the year 2010-11.
For the full financial year ended March 31, 2011, the company's net profit declined to Rs 10 crore as compared to Rs 47.3 crore in the last fiscal.