India's JM Financial falls as Q4 profit slides

JM Financial

10/05/2023 09:25

** Shares of JM Financial Ltd  JMSH.NS  drop as much as 5.2%
to 60 rupees
    ** The financial services firm posts ~68% slump in March-qtr
net profit to 571.1 mln rupees ($6.98 mln), while interest
income rises 25.5% YoY    
    ** Core profit falls to 3.87 bln rupees in Q4, compared with
5.52 bln rupees in the year-ago period
    ** Core profit margin contracts to 45.74% from 68.15% Y/Y
    ** About 9.85 mln shares change hands, 7.5x the 30-day avg -
Refinitiv Data
    ** This is JMSH's steepest pct loss since Dec. 23
    ** Stock trading below its 50-, 100-, and 200-day moving
averages
    
     ($1 = 81.7800 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))