JM Financial Q2 net up 5.5% to Rs 97 cr; total income rises 7%

JM Financial today reported a 5.5 per cent increase in net profit at nearly Rs 97.26 crore for the second quarter of the current fiscal, led by healthy growth in fund-based activity and asset management business.
The consolidated net profits of JM Financial stood at about Rs 92.2 crore during the July-September period in 2014-15.
The company recorded Rs 400.81 crore in total income from operations in the quarter ended September 30, up 7.4 per cent from the same period, a year-ago.
Noting that the financial results were on "expected lines", JM Financial Group Chairman Nimesh Kampani said, "The Group's fund-based business and asset management business have done well."

"While the securities business performed well, the volatility in the markets have hampered the timeliness of deal closures," Kampani noted in a statement.
"We shall continue to navigate challenges and deliver on our commitments to our clients, shareholders and communities and as always, we operate with our strong and time tested values," he added.

The overall funding book stood at Rs 6,118 crore as on September 30, 2015 as against Rs 5,492 crore on June 30.
The average asset under management (AUM) in JM Financial mutual fund stood at Rs 15,858 crore in the quarter ended September. AUM for equity schemes stood at Rs 9,741 crore and for debt schemes at Rs 6,117 crore.

"The institutional equities business saw continued steady client interaction and growth momentum during the quarter," the company said.
"New institutional clients continue to be added to the client muster, in line with the strategy of increasing the breadth and reach of our products," it added.