Total income of the group increased to Rs 209.19 crore from Rs 123.51 crore in the quarter under review.
For the year ended March 2008, the company reported a consolidated net profit (after tax, minority interest and share in associates) of Rs 150.11 crore, an increase of 65 per cent over the previous year.
Quarter-on-quarter, the company's profits dipped by 90 per cent from Rs 1,443 crore reported in December 2007 to Rs 99.76 crore reported in the March 2008 quarter. The last year's huge profits were mainly on account of capital gains earned after the closure of a deal with Morgan Stanley and, therefore, the present quarter profits are in line with expectations.
The board has recommended a dividend of Rs 5 on shares of Rs 10 each (50 per cent) and an additional special dividend of Rs 20 apiece.
The company will also issue bonus shares in the ratio of three new shares for every two shares held by the shareholders and split shares in the ratio of 1:10.
JM Financial is awaiting the RBI approval for the asset reconstruction business.
