JM Financial's consolidated net profit rose 1.49% to Rs 130.56 crore on a 6.12% rise in total income to Rs 840.58 crore in Q4 March 2020 over Q4 March 2019.
Consolidated profit before tax (PBT) skid 12.18% to Rs 215.02 crore in Q4 March 2020 as against Rs 244.84 crore in Q4 March 2019. The result was declared after trading hours yesterday, 6 May 2020.
JM Financial has made gross provisions of Rs 175 crore to deal with the uncertainties on account of COVID-19.
The consolidated net worth as at 31 March 2020 stands at Rs 5,586 crore and the net debt equity of 1.04 times. The book value per share is Rs 66.41. The company's total loan book stood at Rs 11,531 crore as of 31 March 2020 compared to Rs 14,107 crore as of 31 March 2019. Gross NPA and Net NPA stood at 1.65% and 1.13% respectively as of 31 March 2020 compared to 0.68% and 0.55% respectively as of 31 March 2019.
The AUM/AUA of wealth management business stood at Rs 44,883 crore (excluding custody assets) as on 31 March 2020 as compared to Rs 41,886 crore as on 31 March 2019 and Rs 46,886 crore as on 31 December 2019. The average AUM of the company's mutual fund schemes during the quarter ended 31 March 2020 stood at Rs 6,109 crore.
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Speaking on the Q4 performance, Vishal Kampani, the managing director of JM Financial Group, has stated that, "The last 18 months have been challenging for the financial services and especially for the NBFC sector due to the stressed credit environment and slow economic growth. The situation has further worsened on account of the COVID-19 pandemic and subsequent lockdowns across the country. We have made gross provisions of Rs.175 crore on our balance sheet on account of the uncertainties around the impact of COVID-19."
"We have been able to demonstrate resilience by keeping strong liquidity buffers and healthy leverage ratios. The cash and cash equivalent as on March 31, 2020 stood at Rs. 3,412 Crore and our net debt-equity ratio stands at 1.04x which is amongst the lowest in financial services space. We continue to closely monitor the external environment and will remain prudent in our business planning over the next few quarters as the impact of the pandemic is uncertain. We are focused on building strong resilience so that we can keep moving, ahead of the downturn."
"During these unprecedented crisis, JM Financial Group has committed Rs. 30 Crore towards COVID-19 relief measures. The group stands together with the country to combat this crisis and with a collaborative approach, we will be able to overcome the pandemic," he added.
JM Financial is a holding company, operating as a core investment company. It offers customized financial solutions to a range of client base. Its segments include investment banking and securities business, fund-based activities, alternative asset management and asset management.
Shares of JM Financial rallied 3.50% to Rs 65.05 on BSE. The scrip hovered in the range of Rs 64.25 to Rs 66.90 so far.
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