Mumbai: Integrated financial services group JM Financial Services Ltd on 29 May posted a consolidated net profit of Rs45.77 crore for the quarter ended 31 March, up 39% from the same quarter last year.
The company’s consolidated net profit had stood at Rs33.03 crore in the year-ago period, the company informed the Bombay Stock Exchange.
Total income of the group rose to Rs209.19 crore in the fourth quarter of FY08 from Rs123.51 crore in the same period last year.
The board has recommended a dividend of Rs5 on shares of Rs10 each (50%) and an additional special dividend of Rs20.
The company would also issue bonus shares in the ratio of three new shares for every two shares held by the shareholders and split shares into 1:10 ratio.
Nimesh Kampani has been appointed managing director of the company effective from 28 May and would continue as chairman and MD.
For the year ended 31 March, the company reported a consolidated net profit (after tax, minority interest and share in associates) of Rs150.11 crore, up 65% over the previous fiscal.
The company had reported a net profit of Rs90.86 crore in 2006-07.
Total income of the group rose to Rs742.29 crore in the year 2007-08 from Rs444.05 crore in the previous year.