JM Financial Ltd on Monday reported a 27 per cent increase in its consolidated net profit at Rs 145.84 crore for the second quarter ended September 30, compared with Rs 114.65 crore a year ago, on the back of a “steady” performance of its fund-based businesses.
The total income of the company in the September quarter rose nearly 34 per cent to Rs 755.44 crore as against Rs 563.80 crore, it said in a statement.
“Our fund-based businesses performed steadily during the quarter and continue to be key contributors to our profits. Our ARC business remains focused on resolution of the existing assets and we remain selective on acquiring new assets. Capital markets continue to remain buoyant with a consistent rise in the number of companies looking to raise capital,” said Vishal Kampani, managing director of JM Financial Group.
Under the fund-based business, the lending book of JM Financial Products stood at Rs 6,102 crore at end of September.