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Informist, Thursday, Nov. 6, 2025

--JM Fincl Jul-Sept consol net profit INR 2.70 bln vs INR 2.32 bln year ago

--JM Fincl Jul-Sept consol revenue INR 10.31 bln vs INR 11.91 bln year ago

--JM Fincl to pay INR 1.50 per share interim dividend for FY26

--JM Fincl interim dividend record date is Nov 14

--JM Fincl Apr-Sept consol net profit INR 7.24 bln vs INR 4.03 bln year ago

--JM Fincl Apr-Sept consol revenue INR 21.43 bln vs INR 22.68 bln year ago

By Akshat Saksena

MUMBAI – JM Financial Ltd. reported high-teens growth in its net profit for the September quarter despite posting a low-teens decline in its revenue. The company's net profit growth was driven by a sharp year-on-year decline in total expenditure, led by a fall in finance costs. The company's revenue declined, largely due to a fall in interest and brokerage incomes.

The company reported a consolidated net profit of INR 2.70 billion for the September quarter, up 16% on year but down nearly 41% on quarter. The company's revenue fell by over 13% on year and over 7% sequentially to INR 10.31 billion in the reporting quarter. The fall in revenue was due to a nearly 27% on-year fall in interest income to INR 3.89 billion in the September quarter. Its brokerage income also fell by over 13% on year to INR 1.56 billion. The company's income from fees and commission rose over 20% on year to INR 3.41 billion, limiting the fall in its top line.  

JM Financial's total expenditure fell nearly 34% on year to INR 7.00 billion in the September quarter. The fall in the company's total expenses was due to a nearly 26% fall in finance costs to INR 2.54 billion.

The company saw a reversal of INR 77.20 million in its impairment on financial instruments in the reporting quarter. The company's impairment expense on financial instruments was INR 2.29 billion in the year-ago quarter.

For the half-year ended September, the company's consolidated net profit rose nearly 80% on year to INR 7.24 billion. Its revenue for the half year fell nearly 6% on year to INR 21.43 billion. The bottom line for the half year was helped by the company's total expenses falling nearly 36% on year to INR 12.29 billion. 

The company closed 15 market transactions worth INR 280 billion during the quarter under its corporate advisory and capital markets business. As of Sept. 30, the company had over 325 companies under active research coverage with a team of over 200 people. The net profit from the business grew 41% on year to INR 1.42 billion in the September quarter.  

In its wealth and asset management business, the company's headcount for its sales and wealth management grew 43% on year to 1,015 employees and it added 11 new branches, taking its total branches to 70. The average assets under management of its mutual fund business rose 30% on year to INR 149.02 billion in the September quarter, with average assets under management of non-liquid schemes rising 36% on year to INR 121.12 billion. The company's net profit from the mutual fund business fell 14% on year to INR 300 million in the September quarter.

The company's non-core loan book, including its real estate loan book, fell 59% on year to INR 23.12 billion as of Sept. 30. The company's asset reconstruction arm, JM Financial Asset Reconstruction Co. Ltd., reported recoveries of INR 12.73 billion. The subsidiary's borrowings reduced 27% on year to 15.89 billion in the reporting quarter. The company's consolidated net profit of its private markets division rose sevenfold on year to INR 770 million in the September quarter. 

The company's assets under management of its affordable home loans segment rose 28% on year to INR 30.31 billion. During the quarter, this segment added assets worth INR 1.01 billion to its portfolio. Disbursements under JM Financial's affordable home loan segment rose 19% on year to INR 2.25 billion. The segment attracted 28,965 customers, 39% more than in the year-ago quarter. The average ticket size of affordable home loans was around INR 1 million, JM Financial said. The company's branches under the segment grew to 134 from 118 branches in the year-ago quarter. Net profit of JM Financial's affordable home loan segment grew over twofold on year to INR 130 million.     

The company's board declared an interim dividend of INR 1.50 per share for 2025-26 (Apr-Mar) and set Nov. 14 as the record date.  

Thursday, the company's shares closed 2.1% lower at INR 161.93 on the National Stock Exchange. The company announced its earnings after market hours.  End

Edited by Saji George Titus

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