JM Financial Reports Robust Q4 FY24 Results: Net Profit Surges 389%, Dividend Announced May 14, 2025
More news about JM Financial
13May 25
JM Financial Reports Strong Q4 FY23 Results with Net Profit Surge; Share Price Rises 9% on Dividend Announcement
JM Financial announced Q4 FY23 results with a net profit of ₹210.00 crore, reversing a loss of ₹229.00 crore from the previous year. Revenue decreased by 20.70% to ₹1,000.00 crore. The company recommended a dividend of ₹2.70 per share. EBITDA declined by 25.23% year-over-year but improved 24.50% sequentially. The stock price rose 9% to an intraday high of ₹116.55 following the results announcement.
12May 25
JM Financial: Q4 Profit Soars to ₹134.60 Crore, ₹2.70 Dividend Announced
JM Financial's Q4 FY24 consolidated net profit rose to ₹134.60 crore. The company declared a dividend of ₹2.70 per share, increased stake in its distressed credit unit, and is scaling down its wholesale loan book. Strong growth was reported in asset and wealth management segments. Additionally, JM Financial received a tax refund order of ₹230.00 crore for FY25.
21Mar 25
JM Financial to Acquire Remaining 5.97% Stake in JM Financial Credit Solutions for ₹178.05 Crore
JM Financial Limited plans to acquire the remaining 5.97% stake in JM Financial Credit Solutions Limited (JMFCSL) from INH Mauritius 1 for approximately ₹178.05 crore. This acquisition will increase JM Financial's shareholding in JMFCSL to 95.64%. The transaction involves purchasing 1,68,791 equity shares and is expected to be completed by August 31, 2023. JMFCSL, a material subsidiary of JM Financial, is registered as a Systemically Important Non-Deposit taking NBFC and has shown consistent financial performance over the past three years. This move aligns with JM Financial's strategy to consolidate its position in the financial services sector and enhance its control over JMFCSL.
18Mar 25
JM Financial to Consolidate Wealth Management Services: Transfers Private Wealth Business to Subsidiary
JM Financial Limited is transferring its private wealth management business to its wholly-owned subsidiary, JM Financial Services Limited (JMFSL), for ₹11.08 crore. The transfer, effective April 1, 2025, aims to consolidate wealth management services, integrating private wealth with JMFSL's existing offerings. The transferred business contributed 6.84% to JM Financial's revenue and 0.82% to its net worth in the last financial year. This strategic move is expected to streamline operations, create service synergies, and enhance the company's competitive edge in the wealth management sector.
17Mar 25
JM Financial Approves Transfer of Private Wealth Business to Subsidiary
JM Financial Limited is transferring its private wealth business to its wholly-owned subsidiary, JM Financial Services Limited (JMFSL), effective April 1, 2025. The transfer, valued at ₹110.8 million, aims to enhance synergies and unify leadership in wealth management. The private wealth division contributed 6.84% of revenue and 0.82% of net worth in the previous financial year. The move is expected to streamline operations and strengthen client value proposition.
21Feb 25
JM Financial Set to Receive ₹230 Crore Tax Refund, Boosting Financial Position
JM Financial Limited is set to receive a tax refund of ₹230 crore (approx. $27.8 million) for the assessment year 2008-09, as ordered by the Deputy Commissioner of Income Tax, Government of India. The refund, which includes interest, was disclosed in a regulatory filing on February 20, 2025. This substantial inflow is expected to boost the company's liquidity and financial position. JM Financial emphasized that no violations were committed or alleged in connection with this tax order.
20Feb 25
JM Financial Set to Receive ₹230 Crore Tax Refund, Boosting Financial Position
JM Financial Limited is set to receive a tax refund of ₹230 crore (approx. $27.8 million USD) from Indian tax authorities for the assessment year 2008-09. The refund, including interest, was ordered by the Deputy Commissioner of Income Tax on February 19, 2025. JM Financial expects this to have a positive financial impact on its operations. The company has disclosed this information in compliance with SEBI regulations.