Mumbai: In the third quarter ended December 31, 2025, JM Financial reported a consolidated revenue from operations of Rupees 999.36 crore, marking a 9.6 percent decline from Rupees 1,106.14 crore in Q3 FY25 and a 3.1 percent sequential dip from Rupees 1,031.28 crore in Q2 FY26. However, net profit surged 53.6 percent year-on-year to Rupees 318.46 crore, up from Rupees 207.39 crore in the same period last year. This also marks a 21.6 percent sequential rise from Q2. The divergence between top line and bottom line was aided by a 15.6 percent YoY drop in total expenses, which stood at Rupees 704.20 crore in Q3.
Sequential growth builds amid cost discipline
Compared to Q2, JM Financial’s Q3 net profit rose Rupees 56.57 crore (+21.6 percent), even as revenue slipped Rupees 31.92 crore. Finance costs increased modestly to Rupees 247.83 crore from Rupees 244.22 crore in Q2, while impairment provisions reversed to a gain of Rupees 23.35 crore vs a loss of Rupees 7.72 crore in Q2. The company reported an exceptional item of Rupees 21.29 crore due to new Labour Code compliance. Excluding this, profit before tax improved significantly. EPS for Q3 rose to Rupees 3.27 from Rupees 2.82 in Q2, reflecting stronger earnings leverage.
Nine-month view signals strong momentum
For the nine months ended December 2025, JM Financial’s consolidated revenue from operations declined 6.9 percent YoY to Rupees 3,141.98 crore, but net profit almost doubled to Rupees 1,039.12 crore from Rupees 538.57 crore in 9M FY25. This was driven by tight control on impairment costs and segment efficiency. Total comprehensive income stood at Rupees 1,048.42 crore. With a balanced performance across business lines, the firm is on solid financial ground heading into the final quarter of the fiscal year.
Disclaimer: This report is based on publicly disclosed financial results by JM Financial. It is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell.
