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JM Financial on Tuesday reported a marginal decline in its consolidated net profit at Rs 229 crore for the quarter ended March 2022.

It had posted a net profit of Rs 233 crore in the same period a year ago and Rs 261 crore in the preceding quarter ended December 2021.

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Total income during January-March period of 2021-22 was also down at Rs 839 crore as against Rs 841 crore in the same quarter of 2020-21, JM Financial said in a regulatory filing.

Compared sequentially, the income was down by 13 per cent from Rs 964 crore in the December quarter of FY22.

The interest income of the non-banking financial company (NBFC) fell to Rs 422 crore during the quarter as against Rs 478 crore in year-ago period.

However, for the full year ended March 2022, the company’s net profit rose by 23 per cent to Rs 992 crore from Rs 906 crore in the previous fiscal.

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Total income was up by 16.6 per cent to Rs 3,763 crore from Rs 3,227 crore.

The board of directors of the company has recommended a final dividend of Rs 1.15 per share of Re 1 each, it said.

The dividend, if approved at the 37th annual general meeting, will result in cash outflow of Rs 109.75 crore, JM Financial said.

The company had paid an interim dividend of Rs 0.50 per share in March 2022.

With the final dividend, the total dividend for the financial year 2021-22 would be Rs 1.65 per share, aggregating to Rs 157.45 crore, it added.

Stock of JM Financial ended at Rs 64.65 apiece on BSE, down 1.97 per cent from the previous close. PTI KPM KPM ABM ABM

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