Q1FY23 Quarterly Result Announced for JM Financial Ltd.
JM Financial announced Q1FY23 Result : JM Financial’s consolidated net profit stood at Rs. 170.01 crore, a decrease of 16.31% YoY for Q1FY23. The earnings per share for the quarter ended June 30, 2022 is Rs. 1.78. The consolidated net worth as at June 30, 2022 stands at Rs. 7,809 Cr and the gross debt equity (equity of Rs. 7,809 Cr+ non-controlling interest of Rs. 2,847 Cr) ratio is 1.10 times. Cash and cash equivalents stands at Rs. 2,878 Cr. The book value per share is Rs. 81.83. Our consolidated loan book stood at Rs. 12,606 Cr as of March 31, 2022 compared to Rs. 13,017 Cr as of March 31, 2022 and Rs. 11,014 Cr as of June 30, 2021. Gross NPA and Net NPA stood at 3.52% and 2.31% respectively as of June 30, 2022 compared to 4.27% and 2.67% respectively as of March 31, 2022 and 3.46% and 1.89% respectively as of June 30, 2021. The loan book under the Resolution Framework for Covid-19 announced by RBI stood at 0.45% as of June 30, 2022 (0.81% as of March 31, 2022). Overall provisions on the loan book stood at 4.5% of the loan book as of June 30, 2022 as compared to 5.8% of the loan book as of March 31, 2022 and 6.0% as of June 30, 2021. Commenting on the results and financial performance, Mr. Vishal Kampani, Non-executive Vice Chairman, JM Financial Limited, said, “The world economy has been impacted by the war in Ukraine, higher-thanexpected inflation, tighter financial conditions and strict zero Covid policies in China. The capital markets continue to remain volatile and primary equity issuances have reduced substantially as compared to last year. We expect September quarter to continue to remain challenging for primary market issuances. Our pipeline of Investment Banking mandates continues to remain healthy and we are confident to execute a substantial volume of transactions in the next available window of opportunity. During the quarter, we received higher than anticipated levels of prepayments across the lending book. The transaction flow for wholesale mortgage and bespoke financing transactions is strong and we are on track to achieve the guidance provided in May 2022 in our annual earnings call. The branch network of JM Financial Home Loans has expanded to 64 as of June 30, 2022 compared to 55 as of March 31, 2022. The increased infrastructure would further enhance the reach and accelerate the disbursements. Looking ahead, we shall continue to leverage our strengths as an integrated and well capitalized financial services player.” Result PDF02-08-2022