JM Financial Limited , a leading integrated financial services group, has announced robust financial results for the second quarter of fiscal year 2025-26, along with an interim dividend declaration.

Q2 Financial Highlights

JM Financial reported a consolidated profit after tax of Rs 261.89 crore for Q2 FY26, marking a significant 81.6% increase from Rs 144.20 crore in the same quarter last year. The company's total revenue from operations stood at Rs 1,031.28 crore, compared to Rs 1,190.51 crore in Q2 FY25.

Key financial metrics for Q2 FY26 include:

Dividend Announcement

The Board of Directors has declared an interim dividend of Rs 1.5 per equity share for the financial year 2025-26. The dividend will be paid to eligible shareholders on or after November 27, 2025.

Operational Highlights

• Fees and commission income reached Rs 341 crore, up 20% year-on-year.
• The wealth management division expanded its reach, with the number of relationship managers and sales employees increasing by 43% YoY to 1,015.
• The mutual fund business saw significant growth, with average Assets Under Management (AUM) rising 30% YoY to Rs 14,902 crore.
• The affordable home loans segment reported strong growth, with AUM increasing by 28% YoY to Rs 3,031 crore and the customer base expanding by 39% YoY to approximately 29,000.

Capital Markets Performance

JM Financial maintained its strong position in the capital markets:

• Ranked #1 in IPOs by value during Q2 FY26
• Closed 15 capital market transactions amounting to approximately Rs 28,000 crore
• Currently has a pipeline of 56 filed IPO transactions aggregating to about Rs 120,000 crore

Management Commentary

Vishal Kampani, Vice Chairman and Managing Director of JM Financial Limited, commented on the results: "We are extremely excited to report another quarter of strong performance. We are significantly expanding our base as we execute our strategies on recruiting top talent, adding clients, expanding network including physical and digital infrastructure. The pipeline of transactions in corporate advisory and capital markets is extremely robust."

About JM Financial Limited

JM Financial is an integrated and diversified financial services group, offering a wide range of services including investment banking, wealth management, securities business, credit solutions, and asset management. As of September 30, 2025, the group's loan book stood at approximately Rs 97.5 billion, with a distressed credit business AUM of about Rs 128.7 billion, wealth management AUM of nearly Rs 1.15 trillion, and mutual fund average AUM of around Rs 149.0 billion.

JM Financial , a leading financial services group, has reported a mixed set of financial results for the second quarter. The company saw an increase in net profit despite a decline in revenue, showcasing resilience in a challenging market environment.

Profit Growth Amid Revenue Decline

For Q2, JM Financial reported a consolidated net profit of ₹270.00 crore, up from ₹232.00 crore in the same period last year, marking a 16.4% increase. However, the company's revenue declined to ₹1,030.00 crore compared to ₹1,190.00 crore year-over-year, representing a 13.4% decrease.

Segment Performance

The company's performance varied across its different business segments:

The Corporate Advisory and Capital Markets segment showed strong profitability, while the Wealth and Asset Management segment contributed significantly to revenue but had lower profit margins.

Financial Position

As of September 30, JM Financial's consolidated balance sheet showed:

• Total assets of ₹24,583.62 crore
• Total equity of ₹10,912.34 crore
• Cash and cash equivalents of ₹1,180.49 crore

Interim Dividend Declared

The Board of Directors has declared an interim dividend of ₹1.50 per equity share. This will result in a cash outflow of approximately ₹143.43 crore in the next quarter.

Regulatory Update

JM Financial has settled potential proceedings with SEBI regarding its role in public issues of debt securities. The company and its subsidiaries have paid settlement charges and agreed to certain voluntary debarments:

• JM Financial Limited: Paid ₹2.78 crore and agreed to a 3-month debarment from acting as a lead manager in public debt issues.
• JM Financial Services Limited: Paid ₹3.25 crore and agreed to a 3-month debarment from acting as a distributor in public debt issues.
• JM Financial Products Limited: Paid ₹0.44 crore and agreed to a 3-month debarment from IPO financing business.

These settlements and temporary restrictions may impact certain business activities in the short term but demonstrate the company's commitment to regulatory compliance.

Outlook

While facing revenue challenges, JM Financial's ability to increase profits suggests effective cost management and resilience in its core businesses. The company's diverse segment performance indicates a balanced approach to navigating market conditions. Investors and stakeholders will likely watch how the company leverages its strong financial position and adapts to regulatory changes in the coming quarters.