Robust i-banking, lending businesses boost JM Fin net 42%

JM Financial today reported a healthy set of numbers for the March quarter with net profit jumping almost 42 per cent to Rs 210.5 crore, while its lending business closed the quarter with almost nil bad loans.
This record asset quality comes amidst the company's loan book crossing the Rs 10,000-crore-mark to reach Rs 11,343 crore, logging in a growth of 57.21 per cent.
Topline numbers, which grew almost 53 per cent to Rs 725 crore, were mostly driven by the investment banking, wealth management and securities businesses which clipped past 77 per cent, the company said.
The company said its PAT after minority interest and share of associates grew 32.63 per cent to Rs 150.85 crore from Rs 113.74 crore a year ago.

For the full year, net grew 23.42 per cent to Rs 648.87 crore on an income growth of over 40 per cent at Rs 2,359.26 crore.
Managing Director Vishal Kampani attributed the numbers and the overall performance to all-round performance of

all business verticals, especially the fund-based business, which showed good traction across real estate, corporate and capital markets lending.
"We achieved a milestone of crossing Rs 10,000 crore of loan book with almost nil net NPAs. We continue to stringently evaluate assets for our ARC business and focus on resolutions for existing assets," Kampani said.
Investment banking, wealth management and securities businesses also grew well with the momentum in the capital markets recording a 77 per cent growth in net income growth for the year.

On the lending arm side, the lending book of JM Financial Products stood at Rs 5,499 crore, of which corporate and capital market lending book stood at Rs 2,988 crore and the real estate at Rs 2,511 crore. During the quarter, its i-banking arm funded seven IPOs with an aggregate funding of around Rs 8,513 crore.
The lending book of JM Financial Credit Solutions stood at Rs 5,658 crore which largely comprises real estate lending.