Joindre Capital Services Reports 25.8% Drop in Q1 Net Profit
Joindre Capital Services Limited announced unaudited Q1 results ending June 30. Net profit decreased 25.8% to Rs 198.22 crore from Rs 267.28 crore year-over-year. Revenue fell 22.3% to Rs 1,014.00 crore. EPS declined to Rs 1.43 from Rs 1.93. Fees and commission income saw the largest decline at 26.1%. Despite revenue drop, total expenses reduced by 21.7%. Other comprehensive income increased due to fair valuation gains. The board approved these results on August 14, with no qualifications from auditors.
*this image is generated using AI for illustrative purposes only.
Joindre Capital Services Limited , a prominent financial services company, has announced its unaudited financial results for the first quarter ending June 30. The company reported a significant decline in both revenue and profitability compared to the same period last year.
Financial Performance Highlights
- Net Profit: The standalone net profit stood at Rs 198.22 crore, marking a 25.8% decrease from Rs 267.28 crore in the corresponding quarter of the previous year.
- Revenue: Total revenue from operations declined by 22.3% to Rs 1,014.00 crore, down from Rs 1,305.34 crore in the same quarter last year.
- Earnings per Share (EPS): Basic and diluted EPS for the quarter were Rs 1.43, compared to Rs 1.93 in the previous year's quarter.
Segment-wise Performance
The company's performance across various revenue streams showed a mixed trend:
| Revenue Stream | Current Quarter (Rs crore) | Previous Year Quarter (Rs crore) | YoY Change |
|---|---|---|---|
| Interest Income | 269.61 | 289.11 | -6.7% |
| Dividend Income | 5.59 | 5.65 | -1.1% |
| Fees and Commission Income | 689.33 | 932.47 | -26.1% |
| Other Operating Income | 49.47 | 78.11 | -36.7% |
The most significant decline was observed in the fees and commission income, which decreased by 26.1% year-over-year.
Expense Management
Despite the revenue decline, Joindre Capital Services managed to reduce its total expenses:
- Total expenses were Rs 745.33 crore, down from Rs 952.20 crore in the same quarter of the previous year, representing a 21.7% reduction.
- Notable decreases were seen in finance costs and fees and commission expenses.
Other Comprehensive Income
The company reported a substantial increase in other comprehensive income:
- Total other comprehensive income was Rs 93.66 crore, compared to Rs 115.21 crore in the corresponding quarter of the previous year.
- This was primarily due to a remeasurement gain in fair valuation of equity instruments amounting to Rs 116.82 crore.
Management Commentary
The board of directors reviewed and approved these financial results at their meeting held on August 14. The statutory auditors conducted a limited review of the financial results, and no qualifications were reported.
About Joindre Capital Services Limited
Joindre Capital Services Limited is a SEBI-registered stock broker, providing a range of financial services. The company operates as a single segment in line with Indian Accounting Standard 108 on "Operating Segment."
The financial results were prepared in accordance with the Indian Accounting Standards (Ind AS) and comply with the Companies (Indian Accounting Standards) Rules 2015, as well as recent amendments to Schedule III of the Companies Act, 2013.
Historical Stock Returns for Joindre Capital Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.49% | +0.96% | +4.05% | +29.61% | -17.33% | +192.92% |
18
