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JM Financial Quarterly Consolidated Revenues Soar by 121.44 %, Net Profit by 181.54% Six Months Consolidated Revenues Soar by 72.76 %, Net Profit by 55.12 %
Mumbai, October 29, 2007: The Board of Directors of JM Financial Limited, at their meeting held today, has considered and taken on record the unaudited financial results for the quarter and six months’ ended September 30, 2007.
Key Highlights
On a consolidated basis:
Second Quarter of FY 08 compared with Second Quarter of FY 07
- Total income increased to Rs. 191.24 crore from Rs. 86.36 crore, up by 121.44 %
- Net profit before tax is Rs. 87.24 crore as compared to Rs. 40.73 crore
- Net consolidated profit is up by 181.54 % to Rs. 44.80 crore from Rs. 15.91 crore
First Six Months of FY 08 compared with First Six Months of FY 07
- Total income up 72.76 % to Rs. 317.05 crore from Rs. 183.52 crore
- Net profit before tax up 51.30 % to Rs. 133.37 crore from Rs. 88.15 crore
- Net consolidated profit up 55.12 % to Rs. 63.95 crore from Rs. 41.22 crore
The Earning per share (EPS) on weighted average number of shares for the quarter ended September 30, 2007 is Rs. 14.93 (not annualized) whereas EPS for the six months period ended September 30, 2007 was Rs. 21.32 (not annualized).
On September 30, 2007, the total shareholders’ funds stood at Rs. 651 crore comprising equity capital of Rs. 30.00 crore. The book value per share was Rs. 217 as on September 30, 2007. The equity shares of JM Financial are currently listed on The Bombay Stock Exchange Limited (BSE) and The National Stock Exchange of India Limited (NSE).
Mr. Nimesh Kampani, Chairman, JM Financial group said, “The group has seen a very good quarter. We are very pleased with the momentum with which we are building our businesses. Recently, we have acquired a 60% stake in institutional equity broking company “ASK Securities India Private Limited”. More so, we have also successfully completed the sale and purchase of shares with Morgan Stanley. We have also engaged several talented industry professionals across our businesses. We remain focussed on the cornerstones of our business of serving the full scope of our client requirements, capturing opportunities at the right time and nurturing the talent of our people. As we continue to execute our growth strategies and strengthen our franchise, we will continue to generate superior long-term returns to all our shareholders.”
The unaudited financial results are attached. Both the press release and unaudited financial results are available online at www.jmfinancial.in
About JM Financial
JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients. The Group has business interests in investment banking, institutional equity sales and broking, private and corporate wealth management, research, equity broking, portfolio management, asset management, commodity broking, NBFC activities and private equity. For more information, log on to www.jmfinancial.in.
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