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Earnings Summary Of JM Financial Limited For Q3 FY23

JM Financial (NSE: JMFINANCIL) is a financial services conglomerate based in India. The company was founded in 1973 and has grown to become one of the leading players in the Indian financial services sector. JM Financial’s services include investment banking, institutional equity sales, trading, research, and broking, wealth management, asset management, and lending.

In the December quarter of 2022, JM Financial reported consolidated total income of ₹927.57 crore, a decline of 2.5% YoY. JM Financial’s investment banking division has been involved in several high-profile deals in India, including mergers and acquisitions, equity and debt offerings, and restructuring transactions. This investment banking division reported a decline in Revenues by 2.8% YoY. The company saw a strong growth in its Mortgage Lending business, with Revenues growing by 19% YoY. The asset management business, which manages a range of funds, including equity, fixed income, and alternative investment funds reported a decrease of 12.6% YoY in its Revenue. The company’s consolidated Net profit for the quarter stood at INR 280.18 crore, up 44% YoY.

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