JM Financial today reported a 23.57 per cent increase in consolidated net income at Rs 157.34 crore for the three months to September on a healthy jump in income.
The leading financial services firm's total income expanded to Rs 563.8 crore, a growth of 40.56 per cent over the same period last fiscal, the company said in a statement.
The consolidated networth rose to Rs 3,012 crore, while the debt-equity ratio stood at 2.8 times, it said.
Managing Director Vishal Kampani attributed the healthy set of numbers to robust growth in its fund-based business, which led to a stable NIM and good asset quality.
The AUM of its wealth management business stood at Rs 21,895 crore, excluding custody assets, while equity brokerage business also did well.
Its lending book stood at Rs 3,939 crore out of which corporate and capital markets lending book stood at Rs 2,148 crore and the real estate lending at Rs 1,791 crore.
Kampani said the company is planning to enter the housing finance business by leveraging its experience in the real estate lending space and will focus on affordable housing segment.
Its ARC arm is a leader in the asset reconstruction space and during the quarter, it actively participated in several auction processes, pursued corporate accounts and submitted bids.
"We closed four deals during the quarter with two fresh acquisition and two deals as part of debt aggregation process. Fresh acquisition included a portfolio of 11 accounts," he said.
Going forward, Kampani said the company will focus on the ARC business. "We are very focused on growing our ARC business in a profitable manner over near term," he added.
He said the Group's flagship investment banking business did well during the quarter, when it completed six capital markets and five M&A transactions.
Kampani said the company has a robust deal pipeline with several mandated transactions under execution.
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