JM Financial's Profit Climbs Despite Revenue Drop

JM Financial reported a 16% rise in consolidated profit to Rs 270 crore for Q3 2024, although total income decreased to Rs 1,044 crore. Expenses were reduced to Rs 670 crore. An interim dividend of Rs 1.50 per share was announced, payable to eligible members as of November 14, 2025.

On Thursday, JM Financial disclosed a significant profit increase of 16 percent for the three months ending September 30, 2024, reaching Rs 270 crore. The company had reported a profit after tax of Rs 232 crore in the corresponding period last year.

Despite the profit growth, total income saw a decline to Rs 1,044 crore during the July-September quarter of FY26, compared to Rs 1,211 crore in the same quarter of the previous fiscal year, according to the company's regulatory filing.

Meanwhile, total expenses decreased significantly to Rs 670 crore, down from Rs 1,058 crore a year prior. JM Financial declared an interim dividend of Rs 1.50 per equity share for the fiscal year 2025-26, payable to shareholders recorded by November 14, 2025. The diversified financial services group operates in investment banking, mortgage lending, credit solutions, asset management, and more.

(With inputs from agencies.)