Shares of JM Financial rose as a lot as 5.4 per cent to hit an intraday excessive of Rs 84.85 after it reported March quarter earnings. JM Financial’s web revenue in March quarter rose 35 per cent to Rs 178.74 crore from Rs 136.81 crore throughout the identical quarter final 12 months.
JM Financial’s income from curiosity earnings declined 10 per cent to Rs 478.09 on an annual foundation.
During the quarter, JM Financial acted as an arranger to the non-public placement of non-convertible debentures (NCDs) of diversified public sector corporations like IRFC and IOCL value Rs 4,300 crore and in addition organized NCDs within the type of Basel III compliant Additional Tier I bonds of Union Bank of India and Bank of Baroda worh Rs 2,000 crore, the corporate mentioned in a press launch.
“The total mortgage lending book (comprising of loan book of JM Financial Credit Solutions Limited and JM Financial Home Loans Limited) stood at Rs 7,650 crore as at March 31, 2021. Our wholesale mortgage lending focuses on Tier – 1 cities, viz., Mumbai, Thane, Pune, Bangalore, Chennai, Hyderabad, Kolkata and NCR,” JM Financial mentioned.
“FY20-21 has been one of the most challenging years amidst the uncertainties on account of COVID-19. In spite of the economic volatility during the year, the capital markets remained strong on the back of strong liquidity. We are pleased to report that we have concluded the financial year on a positive note, banking on our diversified and resilient business model with strong performance across our business segments,” Vishal Kampani, Managing Director, JM Financial Group, mentioned in a press release.
As of 1:43 pm, JM Financial shares traded 2.73 per cent larger at Rs 82.70, outperforming the Sensex which was up 0.45 per cent.
