JM Financial group today reported a 25.2 per cent growth in consolidated net profit at Rs 188.80 crore for the March quarter on healthy revenue growth driven by credit business and brokerage & fund management verticals.
For the reporting quarter, the consolidated income stood at Rs 932.63 crore, which is growth of 28.65 per cent over the previous year, JM Financial said in a statement.
For the full year to March 2018, the city-based diversified financial services player reported a 24.2 per cent growth in net profit at Rs 630.92 crore, on a 37.11 per cent jump in consolidated revenue at Rs 3,234.89 crore.
Commenting on the financial performance, Vishal Kampani, group managing director said, "This is the highest ever yearly and quarterly operating profit."
A key highlight of the quarter, according to him, was the successful conclusion of the group's maiden qualified institutional placement of Rs 650 crore.
"The fund-based and fee-based businesses have shown strong traction through the year. We are witnessing a lot of opportunities in the ARC space and continue to evaluate new assets and resolve existing ones. We look forward to leverage the opportunities in the new financial year," he said.
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The asset under management (AUM) of its wealth management business rose to Rs 31,808 crore from Rs 23,664 crore a year ago, while its fund-based business under the JM Financial Products label stood at Rs 6,582 crore.
Of this, the corporate credit and structured financing book stood at Rs 2,709 crore, the capital markets lending book at Rs 1,671 crore, SME lending at Rs 375 crore, and real estate lending at Rs 1,827 crore, Kampani said, adding lending book of JM Financial Credit Solutions stood at Rs 7,339 crore.
On the ARC business, he said the company closed eight deals during the quarter, made three fresh acquisition, and four accounts of debt aggregation.
Its outstanding security receipts (SRs) stood at Rs 12,965 crore as of March-end, compared with Rs 12,500 crore as of December-end 2017.
Its mutual fund AUM stood at Rs 16,365 crore, comprising Rs 11,313 crore in equity schemes (including arbitrage and balanced schemes) and Rs 5,052 crore in debt schemes, including liquid schemes. The average AUM stood at Rs 16,633 crore, comprising Rs 11,459 crore in equity schemes and Rs 5,174 crore in debt schemes.
The JM Financial counter tanked 3.6 per cent at Rs 137 on the BSE, whose benchmark ended flat with a 0.05 per cent gain in a volatile trade.
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