JM Financial Ltd Q2FY21 consolidated net profit climbs to Rs. 139.06 crore

JM FINANCIAL LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.803.40 crores during the period ended September 30, 2020 as compared to Rs.691.11 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.139.06 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.93.61 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.1.53 for the period ended September 30, 2020 as compared to Rs.1 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 803.40 crs	₹ 691.11 crs	16.25%
Net Profit	₹ 139.06 crs	₹ 93.61 crs	48.55%
EPS	₹ 1.53	₹ 1	53%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.803.40 crores during the period ended September 30, 2020 as compared to Rs.851.39 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.139.06 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.129.59 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.1.53 for the period ended September 30, 2020 as compared to Rs.1.54 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 803.40 crs	₹ 851.39 crs	-5.64%
Net Profit	₹ 139.06 crs	₹ 129.59 crs	7.31%
EPS	₹ 1.53	₹ 1.54	-0.65%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.1494.51 crores during the 6 months period ended September 30, 2020 as compared to Rs.1707.52 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.232.67 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.256.88 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.2.55 for the 6 months period ended September 30, 2020 as compared to Rs.3.05 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 1494.51 crs	₹ 1707.52 crs	-12.47%
Net Profit	₹ 232.67 crs	₹ 256.88 crs	-9.42%
EPS	₹ 2.55	₹3.05	-16.39%

Commenting on the results and financial performance, Mr. Vishal Kampani, Managing Director, JM Financial Group, said, "The headwinds due to the COVID-19 induced economic disruptions continue to impact the group's businesses. Despite the headwinds, our Investment banking, wealth management and securities business has shown resilience by demonstrating strong performance. We continue to maintain liquidity buffers and healthy leverage ratios. The cash and cash equivalent as on September 30, 2020 stood at Rs. 2,831 Crore and our net debt-equity ratio stands at 0.89x.

We have made gross provisions of Rs. 298 Crore on our balance sheet to deal with the uncertainties on account of COVID-19. Looking ahead, we continue to monitor the situation very closely. We are committed to work with our clients to steer through the uncertain times and leverage the emerging market opportunities backed by our wellcapitalised and diversified business model."

Shares of JM FINANCIAL LTD. was last trading in BSE at Rs.80.6 as compared to the previous close of Rs. 79.8. The total number of shares traded during the day was 49948 in over 629 trades.

The stock hit an intraday high of Rs. 81.8 and intraday low of 78.5. The net turnover during the day was Rs. 4002345.

Source : Equity Bulls

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