JM Financial post stable numbers

JM financial reported stable consolidated performance for the quarter ended Q1FY19. The bank's revenue from investment banking declined over the same period previous year.

The total revenue for the quarter rose by 23 per cent yoy to Rs. 828 crore in Q1FY19 vs Rs. 673 crore in Q1FY18. The bank's IWS (Investment banking, wealth management & Securities business) segment revenue declined by 10 per cent yoy to Rs. 445 crore in Q1FY19 vs Rs. 506 crore in Q1FY18. This was offset by the rise in revenues from mortgage lending by 23 per cent and Distress credit by 27 per cent yoy.

The EBITDA cost of the company rose by 27 per cent to Rs. 629 crore in Q1FY19. The finance cost of the company rose substantially by 27 per cent yoy to Rs. 334 crores. The resultant bottom-line for the quarter rose minimally by 8.9 per cent yoy to Rs. 199 crore vs Rs. 183 crore.
  

The stock closed down by 2.12 per cent at Rs. 119.9 mark on Wednesday