Mumbai, Feb 7 (PTI) JM Financial on Monday said its consolidated net profit witnessed a 20 per cent jump to Rs 216.80 crore in the December 2021 quarter. Its consolidated income grew a moderate 8.25 per cent to Rs 964.48 crore, the city-based company, which is into equity broking, investment banking and credit, said. The company’s consolidated loan book of its two credit verticals stood at Rs 11,240 crore in December 2021, up from Rs 10,407 crore in December 2020. Assets quality deteriorated as gross NPAs and net NPAs rose to 4.39 per cent and 2.76 per cent, respectively, from 1.79 per cent and 1.16 per cent a year ago. Gross NPAs and net NPAs stood at 2.32 per cent and 1.38 per cent, respectively, in September 2021. The loan book under the resolution framework for the pandemic-hit sectors stood at 0.91 per cent in December 2021, up from 0.87 per cent in September 2021. Gross NPAs increased by Rs 66 lakh, on account of the new prudential norms on income recognition, asset classification and provisioning announced by the RBI in November 2021, it said. This has led the company to make additional gross provisions of Rs 185 crore towards… Read full this story
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JM Financial's net profit jumps 20 pc to Rs 217 cr in Dec quarter have 274 words, post on bfsi.economictimes.indiatimes.com at February 8, 2022. This is cached page on Vietnam Colors. If you want remove this page, please contact us.