JM Financial’s Q2 net up 5%

JM Financial reported a 5.5 per cent increase in net profit at ₹97.26 crore for the second quarter compared with ₹92.2 crore in the corresponding quarter last year. The company recorded ₹400 crore income from operations in the quarter ended September 30, up 7.4 per cent from the same period, a year-ago. Commenting on the results, Nimesh Kampani, Chairman, JM Financial Group, said, “The financial performance was on expected lines. The group’s fund-based business and asset management business have done well. While the securities business performed well, volatility in the markets has hampered the timeliness of deal closures.”