JM Financial Q3 net profit down 11.58% at Rs 28.55 cr
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The company reported standalone net profit of Rs 28.55 crore for the quarter ended December 31, 2020 as compared to Rs 32.29 crore in the same period last year, registering a year-on-year decline of 11.58 per cent. Net revenue of the company declined substantially by 21.81 per cent at Rs 77.24 crore in October-December quarter of this fiscal as against Rs 98.78 crore in the corresponding period last year.
During October-December quarter, operating expenses dropped by 31.24 per cent to Rs 35.32 crore from Rs 51.37 crore in year ago period. Other Income dipped by 60.29 per cent at Rs 1.37 crore versus (Dec'19 Rs 3.45 crore).
Operating Profit slipped by 11.58 per cent to Rs 41.92 crore as against Rs 47.41 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 13.06 per cent in December quarter. Interest declined by 8.33 per cent y-o-y to Rs 1.76 crore, while Taxation decreased by 26.51 per cent at Rs 10.01 crore (Dec'19 Rs 13.62 crore).
