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JM Financial Announces Unaudited Results for Quarter and Half Year Ended September 30, 2006
Mumbai, October 16, 2006: The Board of Directors of JM Financial Limited, at their meeting held today, have considered and taken on record the unaudited financial results for the quarter and half year ended September 30, 2006.
On a consolidated basis:
For the quarter ended September 30, 2006, the company has reported the total income of Rs.86.36 crores, Net profit before tax of Rs. 40.73 crores and a net profit after tax, share of minority interest and share of associates of Rs.15.91 crores.
For the half year ended September 30, 2006, the total income has increased by 75%, which is Rs.183.52 crores as against Rs.105.04 crores for the corresponding period previous year. The net profit before tax has also gone up by 74%, which is Rs. 88.15 crores as compared to Rs. 50.44 crores for the corresponding period previous year. Similarly, the net profit after tax, share of minority interest and share of associates has gone up by 73%, which is Rs.41.22 crores as compared to Rs.23.88 crores for the corresponding period of the previous year.
The earning per share (EPS) for the quarter ended September 30, 2006 is Rs. 5.30 whereas EPS for the half year ended September 30, 2006 is Rs. 13.74
On a standalone basis:
For the quarter ended September 30, 2006, the company has reported a turnover of Rs.4.57 crores against Rs.2.68 crores for the corresponding period previous year, profit before tax is Rs. 3.92 crores as against Rs.2.59 crores for the corresponding period previous year and net profit after tax of Rs.3.59 crores as against net profit of Rs.2.58 crores or the corresponding period previous year.
For the six months ended September 30, 2006, the company has reported a turnover Rs. 13.78 crores as against Rs.2.95 crores for the corresponding period previous year, net profit before tax of Rs. 12.87 crores as against Rs. 2.78 crores for the corresponding period previous year and net profit after tax of Rs. 12.22 crores as against Rs. 2.74 crores for the corresponding period previous year.
The earnings per share (EPS) for the quarter stand at Rs.1.20 as against Rs. 2.28 for the corresponding period previous year whereas EPS for the half year is Rs. 4.07 as against Rs. 2.42 for corresponding period previous year.
In addition to the existing listing on Bombay Stock Exchange Limited, the shares of the company have been listed on National Stock Exchange (NSE) on October 10, 2006.
Announcing the results, Mr. Nimesh Kampani, Chairman, JM Financial said, “JM Financial has tremendous strengths as a financial services firm which has enabled it to generate significant momentum with clients and thereby deliver a robust growth. As we progress, establishing ourselves in a fast-moving and extremely competitive market, we will continue to focus on improving our growth and profits; and most importantly providing value to our shareholders.”
The unaudited financial results are attached. JM Financial is an integrated financial services group offering a board range of financial products and services to is clients.
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