JM Financial reports highest ever yearly operating profit
JM Financial reported its results for the quarter ended March 31, 2018, on Wednesday.
The company's NII for the quarter jumped by 22.4 per cent yoy and 15.1 per cent qoq to Rs. 626 crore in Q4FY18 as against Rs. 544 crore in Q3FY18 and Rs. 511 crore in Q4FY17. The interest income for the company grew by 28.6 per cent yoy to Rs. 933 crore in Q4FY18 vs Rs. 725 crore in Q4FY17.
On a full year basis, the NII grew significantly by 32.5 per cent yoy to Rs. 2,090 crore vs Rs. 1,577 crore in FY17. Further, the interest income grew by 37 per cent yoy to Rs. 3,235 crore vs Rs. 2,359 crore in FY17.
The net profit for the quarter came in at Rs. 188.8 crore, grew by 25.2 per cent as compared to Q4FY17. On a full year basis, the net profit jumped by 34 per cent yoy to Rs. 631 crore vs Rs. 470 crore in FY17.
The AUM of our wealth management business stood at Rs. Rs. 31,808 crore (excluding custody assets) as on March 31, 2018 as compared to Rs. 31,910 crore as of December 31, 2017 and Rs. 23,664 crore as of March 31, 2017.
The Board of Directors declared a final dividend of Rs. 1.10 per share of the face value of Re. 1.
On Wednesday, the stock opened at Rs. 141 per share and touched an intra-day high and low of Rs. 143.80 and Rs. 136.35, respectively and finally closed at Rs. 137, on the BSE.