Nexome Capital Markets Reports Mixed Q1 Results, Plans Rights Issue and Mumbai Expansion
Nexome Capital Markets (formerly SMIFS Capital Markets) reported a consolidated net profit of ₹126.75 lakh for Q1, up from ₹36.18 lakh year-over-year. Total income decreased to ₹1,748.93 crore from ₹1,767.10 crore. The company's Board approved a rights issue to raise funds and plans to open a new branch in Mumbai from September 1. Investment Banking Operations contributed ₹1,453.92 crore to revenue, while Capital Market Operations generated ₹216.02 crore. Auditors noted expected credit losses on loans and fair valuation losses on investments.