JM Financial net jumps 24% to Rs 157 crore

MUMBAI: JM Financial reported a 24% rise in consolidated net profit at Rs 157 crore for the quarter ended September 2016, backed by good performance of its fund-based businesses. Total income stood at Rs 564 crore, a jump of 41% over the corresponding quarter previous year.

“The group's fund-based business continued to per form well during the quarter and was the major con tributor to the group's prof its,“ JM Financial MD Vishal Kampani said in a statement. “Our loan book was stable with steady NIMs and good asset quality. We continued to cautiously evaluate new opportunities in the stressed assets space,“ he added.