JM Financial Q4 net profit at Rs 114 cr

Mumbai:  Financial services firm JM Financial reported a 22 % rise in net profit at Rs 113.74 crore for the March quarter, backed by steady performance of its fund-based and asset management businesses.    However, the Rs 113.74 crore profit registered in the fourth quarter is nearly 3 % lower than the profit of Rs 117 crore reported in the preceding December quarter.  “Looking at the performance for the full year, the fund-based businesses and asset management business have done reasonably well,” JM Financial Group Chairman Nimesh Kampani said. “It reflects our ongoing strategy to build platforms for growth while continuing focus on maintaining leadership in the advisory business,” he said. According to Kampani, “The company would additionally focus to leverage on evolving opportunities in technology-backed platforms that can be complementary to our businesses, during the current fiscal.”  JM Financial’s consolidated revenue rose 21 % to Rs 474.55 crore during the fourth quarter.