{"id":21861,"date":"2022-02-07T19:33:39","date_gmt":"2022-02-07T14:03:39","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-results-jm-financial\/"},"modified":"2022-02-07T19:38:11","modified_gmt":"2022-02-07T14:08:11","slug":"biz-results-jm-financial","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-results-jm-financial\/","title":{"rendered":"JM Financial Q3 Results: Consolidated net profit jumps 20%"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3143719473\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>JM Financial on Monday said its consolidated net profit witnessed a 20 per cent jump to Rs 216.80 crore in the December 2021 quarter.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2850795002\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>Its consolidated income grew a moderate 8.25 per cent to Rs 964.48 crore, the city-based company, which is into equity broking, investment banking and credit, said.<\/p>\n<p>The company&#8217;s consolidated loan book of its two credit verticals stood at Rs 11,240 crore in December 2021, up from Rs 10,407 crore in December 2020.<\/p>\n<p>Assets quality deteriorated as gross NPAs and net NPAs rose to 4.39 per cent and 2.76 per cent, respectively, from 1.79 per cent and 1.16 per cent a year ago.<\/p><div class=\"trade-content_5\" id=\"trade-699535547\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Gross NPAs and net NPAs stood at 2.32 per cent and 1.38 per cent, respectively, in September 2021.<\/p>\n<p>The loan book under the resolution framework for the pandemic-hit sectors stood at 0.91 per cent in December 2021, up from 0.87 per cent in September 2021.<\/p>\n<p>Gross NPAs increased by Rs 66 lakh, on account of the new prudential norms on income recognition, asset classification and provisioning announced by the RBI in November 2021, it said.<\/p>\n<p>This has led the company to make additional gross provisions of Rs 185 crore towards pandemic stress for the nine months to December 2021, thereby taking the pandemic total provisions, net of reversals to Rs 536 crore.<\/p>\n<p>Overall provisions on the loan book stood at seven per cent in December, up from 5.1 per cent in December 2020 and 6.4 per cent in September 2021, Vishal Kampani, non-executive vice-chairman of the group, said.<\/p>\n<p>Despite such high provisions, Kampani said the third quarter numbers are the highest-ever quarterly net profit.<\/p><div class=\"trade-content-10\" id=\"trade-506501922\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Its consolidated net for three quarters stood at Rs 594.4 crore, which has already surpassed the full-year consolidated net in FY21 at Rs 590.1 crore.<\/p>\n<p>But, Kampani did not tell which are verticals that have driven the record quarterly profit. The company also did not share the profit or income split.<\/p>\n<p>Despite higher stress in the lending vertical, he said the company is actively looking to grow the loan book across its all lending segments.<\/p>\n<p>The retail mortgage business is now achieving critical size and scale after the recent expansion to around 50 locations and the resultant spike in disbursements to over Rs 150 crore per quarter, he said.<\/p>\n<p>The assets under its mortgage lending, comprising the loan book of JM Financial Credit Solutions and JM Financial Home Loans, stood at Rs 7,376 crore in December 2021.<\/p>\n<p>On the asset reconstruction company (ARC) business, he said the focus on recoveries yielded results with Rs 240 crore recoveries during the quarter, and security receipts worth Rs 142 crore were redeemed. Outstanding security receipts stood at Rs 10,710 crore compared with Rs 10,687 crore in September 2021.<\/p>\n<p>Until December, it has acquired total outstanding dues of Rs 63,265 crore at a gross consideration of Rs 17,733 crore. PTI BEN HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-4099790825\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>JM Financial on Monday said its consolidated net profit witnessed a 20 per cent jump to Rs 216.80 crore in the December 2021 quarter. Its consolidated income grew a moderate 8.25 per cent to Rs 964.48 crore, the city-based company, which is into equity broking, investment banking and credit, said. The company&#8217;s consolidated loan book [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":21863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31,1789],"tags":[],"class_list":["post-21861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JM Financial Q3 Results: Consolidated net profit jumps 20% - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-results-jm-financial\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JM Financial Q3 Results: Consolidated net profit jumps 20%\" \/>\n<meta property=\"og:description\" content=\"JM Financial on Monday said its consolidated net profit witnessed a 20 per cent jump to Rs 216.80 crore in the December 2021 quarter. 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