Financial services company JM Financial reported net profit of ₹ 114 crore for Q2, 18 per cent higher than the year-ago period. Total income stood at ₹ 561 crore in the period, up 41 per cent from the corresponding period last year.
Vishal Kampani, Managing Director, JM Financial Ltd, said, “The Group’s fund based business continued to perform well during the quarter and was the major contributor to the group’s profits. Our loan book was stable with steady NIMs and good asset quality. We continued to cautiously evaluate new opportunities in stressed assets space. We are very focused on growing our ARC business in a profitable manner over near term. It was a good quarter for our Investment banking business as well, as we completed five M&A transactions and continue to grow with a robust deal pipeline with several mandated transactions under execution.”