JM Financial consolidated net up 56% to Rs 93 cr

Diversified financial services player JM Financial today reported consolidated net profit of Rs 93 crore for the quarter to March, up 56 per cent from year ago, while income rose 54 per cent to about Rs 393 crore.
For the full fiscal, consolidated revenue rose 39 per cent to Rs 1,403 crore, helping the company report a healthy 58 per cent jump in net profit at Rs 331 crore.
Commenting on the results, JM Financial Group chairman Nimesh Kampani said the good set of numbers were driven by the focus on advisory business and lending in specific segments.
During the last quarter its investment banking division posted robust performance and the business pipeline continues to remain healthy with several mandated transactions under execution, he said.

The company will continue to increase the focus on M&A and private equity advisory business this fiscal and ahead.
Wealth management business saw its assets under management rise to Rs 17,383 crore, he said. However, the combined AUM of the private equity fund and real estate fund came down to Rs 940 crore due to reduced management fees attributable to the exits made by the funds.
The mutual fund business touched Rs 12,231 crore with the average AUM under equity schemes being at Rs 5,168 crore and those under the debt schemes at Rs 7,063 crore.