JM Financial yearly consolidated revenues soar by 67 %
Yearly consolidated Profit before exceptional item and tax soar by 65 % Announces bonus shares in the ratio of 3 shares for every 2 shares held Announces split of shares from the face value of Rs. 10 to Re. 1 each
Tweet-- The Board of Directors of JM Financial Limited, at its meeting held today, have considered and taken on record the audited financial results for the quarter and year ended March 31, 2008.
Consolidated Results – Key Highlights:
Q4 – FY 07-08 compared to Q4-FY 06-07 (before considering exceptional items (net of tax))
Ø Total income increased to Rs 209.19 crore from Rs 123.51crore, up by 69 %.
Ø Net profit before tax increased to Rs 85.84 crore from Rs 73.31crore, up by 17 %
Ø Net profit after tax, minority interest and share in associates, increased to Rs 45.77 crore from Rs 33.03crore, up by 39 %
FY 07-08 compared to FY 06-07 (before considering exceptional items (net of tax))
Ø Total income increased to Rs 742.29 crore from Rs 444.05 crore, up by 67 %.
Ø Net profit before tax increased to Rs 280.15 crore from Rs 182.92 crore, up by 53 %
Ø Net profit after tax, minority interest and share in associates, increased to Rs 150.11 crore from Rs 90.86 crore, up by 65 %
Q4 – FY 07-08 compared to Q4-FY 06-07 (after considering exceptional items (net of tax))
Ø Total income increased to Rs. 209.19 crore from Rs. 123.51 crore.
Ø Net profit before tax increased to Rs 85.84 crore from Rs 73.30 crore.
Ø Net profit after tax, minority interest and share in associates, increased to Rs. 100.06 crore from Rs 33.02 crore.
FY 07-08 compared to FY 06-07 (after considering exceptional items)
Ø Total income increased to Rs 742.29 crore from Rs. 444.05 crore, up by 67 %.
Ø Net profit before tax increased to Rs 1,789.75 crore from Rs 182. 91 crore.
Ø Net profit after tax, minority interest and share in associates, increased to Rs. 1,307.06 crore from Rs 90.85 crore.
The Earning per share (EPS) (before exceptional items) on weighted average number of shares and number of shares outstanding at the year end, for the quarter ended March 31, 2008 is Rs. 15.26(not annualised) and that for the year ended March 31, 2008 is Rs. 50.04 (not annualised).
The Earning per share (EPS) (after exceptional items )on weighted average number of shares and number of shares outstanding at the year end, for the quarter ended March 31, 2008 is Rs. 33.35 (not annualised) and that for the year ended March 31, 2008 is Rs. 435.69(not annualised).
On March 31, 2008, the total shareholders’ funds stood at Rs. 1762.64 crore of which equity capital is Rs. 30.00 crore. The book value per share was Rs. 587.54 as on March 31, 2008. The equity shares of JM Financial are currently listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The Board of Directors has recommended a dividend of Rs. 5 per share (50 %) (previous year 50%) and a special dividend of Rs. 20 per share (200%) .
The Board of Directors also decided to declare Bonus shares in the ratio of 3 new shares for every 2 shares held by the shareholders and to split the face value of the shares of the Company to Re.1 per share from existing Rs.10 per share. Both the above corporate actions will be effected in relation to shares held by shareholders on the “Record date” to be determined by the Board.
The Board appointed Mr Nimesh Kampani as the Managing Director of the Company effective May 28, 2008.Thus Mr. Nimesh Kampani will be the Chairman and Managing Director of the Company.
Mr Nimesh Kampani said, “We had a very successful year in 2007 – 08. We proved our strength in the Investment Banking and Securities Business as a standalone Indian entity, maintaining leadership during the year, while we have re-established our institutional equities desk. We consolidated our Asset Management business – both for Mutual Fund and Alternative Assets. We have capitalised and strengthened our securities financing business further and are awaiting RBI approval to begin our Asset Reconstruction business. We have also crossed the significant 1000 - employee milestone during the year, thus building a stronger professional team. We are proud of our achievements and will continue to focus on building our Institution in the years ahead.”
Notes to Editor
About JM Financial
JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients. The Group’s businesses include investment banking, institutional equity sales, trading, research and broking, private and corporate wealth management, equity broking, portfolio management, asset management, commodity broking, non-banking finance products, private equity and asset reconstruction. For more information, log on to www.jmfinancial.in.