JM Financial Reports Record Q1 Operating Profit with 166% YoY Growth

JM Financial has achieved its highest-ever quarterly operating profit after tax of ₹454 crore for Q1FY26, marking a staggering 166% year-on-year increase. The firm's consolidated net worth now exceeds ₹10,000 crore, with a book value per share of ₹106.4.

Net revenue ROSE 22% to ₹779 crore, while pre-provisioning operating profit climbed 22% to ₹389 crore. A notable contributor was a net reversal of impairment on financial instruments totaling ₹204 crore, compared to a ₹72 crore impairment in the prior-year quarter.

The company has aggressively reduced its real estate loan exposure, cutting the book by 56% YoY to ₹2,063 crore. Borrowings decreased by approximately ₹4,300 crore over the past year, improving the debt-to-equity ratio to 1.0x from 1.4x.

Wealth management emerged as a standout performer, with recurring AUM growing 37% to ₹31,180 crore. The division expanded its footprint with 13 new branches and a 45% increase in relationship managers to 947. Mutual fund AUM surged 49% to ₹13,901 crore.

"We're extremely excited by the strong momentum across all our business verticals," said Vishal Kampani, Vice Chairman and Managing Director. The results demonstrate JM Financial's robust positioning in India's evolving financial landscape.