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JM Financial shares rise over 3% on Q4 results

LiveMint logoLiveMint 03-05-2017 PTI

New Delhi: Shares of JM Financial on Wednesday rose by over 3% after the company’s March quarter net profit jumped almost 42%.

The stock gained 2.86% to end at Rs 120.65 on BSE. During the day, it jumped 6.39% to Rs 124.80—its 52-week high.

On NSE, shares of the company rose by 3.2% to close at Rs 120.85. In terms of volume, 8.15 lakh shares of the company were traded on BSE, and over 41 lakh shares changed hands at NSE during the day.

JM Financial on Tuesday reported a healthy set of numbers for the March quarter with net profit jumping almost 42% to Rs 210.5 crore, while its lending business closed the quarter with almost nil bad loans.

This record asset quality comes amidst the company’s loan book crossing the Rs 10,000-crore-mark to reach Rs 11,343 crore, logging in a growth of 57.21%.

Topline numbers, which grew almost 53% to Rs 725 crore, were mostly driven by the investment banking, wealth management and securities businesses which clipped past 77%, the company had said.

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