|
JM Financial Announces Audited Results and Dividend for Year Ended
March 31, 2006
Mumbai, June 29, 2006: The Board of Directors of JM Financial Limited, at their meeting held today, have approved the audited statement of accounts for the year ended March 31, 2006 and have recommended a dividend of 25% for the said year. The said dividend of Rs. 2.50 per share has been provided on the equity capital of Rs.30 crore on a fully diluted basis, considering the impending completion of the recent preferential allotment. The amount of dividend including dividend tax thereon as provided is Rs. 855.19 lakhs as against Rs. 322.83 lakhs in the previous year.
Announcing the results, Mr. Nimesh Kampani, Chairman, JM Financial Limited, said, “The Indian economy continues to demonstrate strength even providing for the inflationary influence of rising oil prices and interest rates. JM Financial has established a strong franchise and customer base across the country. Our ongoing businesses have demonstrated a strong performance and the new ventures are progressing satisfactorily. We have identified various interesting opportunities which we are confident will further add value for shareholders.”
Key Financial Highlights
Consolidated Basis
For the year ended March 31, 2006, JM Financial recorded, on a consolidated basis, net profit after tax and reduction of minority interest and share of profit in associate companies of Rs. 6680.90 lakhs on the Gross Income of Rs. 23111.19 lakhs as on March 31, 2006. The earning per share stands at Rs. 37.65 on 1,77,44,105 shares on weighted average basis and Rs.23.95 on 2,78,98,333 shares at the year-end and the book value per share stands at Rs.221.93 on 1,77,44,105 shares on weighted average basis and at Rs. 217.01 on 2,78,98,333 shares at year-end.
Standalone Basis
On a standalone basis, JM Financial recorded a 61.13% growth in profit after tax to Rs. 1526.87 lakhs for the year ended March 31, 2006 from Rs. 947.59 lakhs reported for the previous year.
Recently, JM Financial has allotted 875,000 equity shares to Mr. Azim Hasham Premji, which were issued to him on a preferential basis. The Company will allot 1,226,667 equity shares to Blue Ridge on receipt of regulatory approvals including FIPB approval.
The financial summary is attached.
JM Financial Group is an integrated financial services group offering a broad range of financial products and services to its clients.
|