JM Financial hits record operating profit, crosses INR10,000cr net worth

JM Financial reported record operating profit of INR454 crores for Q1 FY26, with net worth exceeding INR10,000 crores for the first time. Book value reached INR106.4 per share.

Net revenue grew 22% year-on-year, while the non-core real estate loan book declined 56%. The company reduced borrowings by INR4,300 crores over the past year.

Wealth management recurring assets under management surged 37% year-on-year to INR31,180 crores, while brokerage income rose 29% quarter-on-quarter.