JM Financial Q1 results, quarter to Jun 2026

NSE: JMFINANCILBSE: 523405FinanceSmall Cap

JM Financial Limited · Face value ₹1 · Listed Jul 1991 on BSE, Oct 2006 on NSE

₹111.78₹4.00 (3.71%)BSE ₹111.50

Share price at the NSE close on 2 Nov 2026. Previous close ₹107.78.

2 Nov: open ₹107.99, high ₹113.65, low ₹107.85

52-week range of traded prices to 2 Nov 2026

₹103.00Low, 26 Oct 2026₹168.40High, 6 Nov 2025

Next results date: the board meets on 4 Nov 2026 to consider: financial results and dividend. The notice · Results calendar

Market cap: ₹10,697 Cr494th largest listed
P/E: 10.29
P/B: 1.00
Dividend yield: 2.91%
ROE: 10.2%
ROCE: 9.9%
Debt to equity: 1.01
Volume, NSE: 16,60,26539.5% delivered

JM Financial filed its Q1 results for the quarter to Jun 2026 on 3 Aug 2026 at 8:50 pm, consolidated: the company and its subsidiaries together.

Q1 results, quarter to Jun 2026

₹ crore.JM Financial annual results and balance sheet

Revenue: ₹1,201 Cr+8.0% on a year ago · +26.5% on the quarter before
Operating profit: ₹700 Cr−17.7% on a year ago · +42.5% on the quarter before
Net profit: ₹369 Cr−19.7% on a year ago · +127.6% on the quarter before
Earnings per share: ₹3.05−35.8% on a year ago · +76.3% on the quarter before
Operating margin: 58.3%
Net margin: 30.7%

From revenue to net profit, ₹ crore

Revenue1,201
Operating expenses−500
Operating profit700
Depreciation−22
Other income+24
Finance costs−247
Profit before tax456
Tax−87
Joint ventures−0.2
Net profit369

JM Financial results by quarter

Consolidated: the company and its subsidiaries together. Latest quarter to Jun 2026. Results for the quarter to Sep 2026 are due by 14 Nov 2026, 45 days after it ends. Every company's dates are on the results calendar.Results filings and date

Revenue and net profit by quarter, ₹ crore

Revenue
Net profit
Loss

Peak revenue ₹1,261 Cr, quarter to Mar 2024; lowest ₹949 Cr, quarter to Mar 2026A loss in 1 of the 12 quarters shown

Operating and net margin by quarter, per cent

Operating margin
Net margin

₹ crore	Sep 2021	Dec 2021Q3	Mar 2022	Jun 2022Q1	Sep 2022	Dec 2022Q3	Mar 2023	Jun 2023Q1	Sep 2023	Dec 2023Q3	Mar 2024	Jun 2024Q1	Sep 2024	Dec 2024Q3	Mar 2025Q4Filed 12 May	Jun 2025Q1	Sep 2025Q2Filed 6 Nov	Dec 2025Q3Filed 5 Feb	Mar 2026Q4Filed 29 May	Jun 2026Q1Filed 3 Aug
Revenue from operations	962	952	810	791	858	928	846	1,065	1,197	1,236	1,261	1,077	1,191	1,106	1,004	1,111	1,031	999	949	1,201
	–	–	–	–	–	–	–	–	–	–	–	462	700	500	426	261	426	436	458	500
Materials and goods bought	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating profit before depreciation	–	–	–	–	–	–	–	–	–	–	–	615	491	607	578	850	605	563	491	700
Operating margin	–	–	–	–	–	–	–	–	–	–	–	57.1%	41.2%	54.8%	57.6%	76.5%	58.6%	56.4%	51.8%	58.3%
Depreciation and amortisation	9	9	10	10	10	10	12	12	13	14	14	16	15	16	16	17	19	20	22	22
Other income	7	13	30	14	19	19	26	16	17	25	15	17	21	14	23	10	13	127	20	24
Finance costs	287	283	250	261	270	301	347	366	388	400	407	370	343	318	274	251	254	248	246	247
Profit before one-off items and tax	317	349	322	259	318	322	54	230	278	417	275	245	154	287	311	593	344	422	243	456
One-off items	0	0	0	0	0	0	0	0	0	0	−847	0	0	0	0	0	0	−21	0	0
Profit before tax	317	349	322	259	318	322	54	230	278	417	−572	245	154	287	311	593	344	400	243	456
	89	88	92	61	80	81	21	55	72	96	103	59	10	79	76	135	89	95	84	87
Current tax	130	72	84	41	54	85	63	83	93	76	86	58	83	93	65	82	66	84	54	119
Deferred tax	−41	16	9	20	26	−3	−42	−28	−20	19	16	1	−73	−14	11	53	23	12	30	−32
Tax rate	28.1%	25.2%	28.8%	23.5%	25.2%	25.3%	39.7%	23.9%	26.0%	22.9%	–	24.2%	6.4%	27.6%	24.5%	22.8%	26.0%	23.8%	34.4%	19.1%
Share of profit of joint ventures and associates	0	0	−1	0	0	–	0	1	0	1	1	1	0	0	0	1	7	13	3	0
	228	261	228	198	238	240	32	177	206	322	−674	187	144	207	235	459	262	318	162	369
Belonging to the company's shareholders	174	217	179	170	180	190	57	166	195	278	−229	171	232	209	210	454	270	313	165	292
Belonging to outside owners of subsidiaries	54	44	50	28	58	50	−25	11	11	45	−445	16	−88	−2	25	5	−8	6	−3	77
Other comprehensive income	−1	0	4	5	3	3	−1	−1	2	0	0	−1	−1	4	0	0	7	3	17	−1
Total comprehensive income	227	261	232	203	241	243	32	176	208	322	−675	186	144	211	235	459	269	321	179	368
Net margin	23.7%	27.4%	28.2%	25.1%	27.7%	25.9%	3.8%	16.6%	17.2%	26.1%	−53.5%	17.4%	12.1%	18.7%	23.4%	41.3%	25.4%	31.9%	17.1%	30.7%
Net margin without joint ventures and associates	23.7%	27.4%	28.3%	25.1%	27.7%	–	3.8%	16.5%	17.2%	26.0%	−53.5%	17.2%	12.1%	18.8%	23.4%	41.2%	24.7%	30.5%	16.8%	30.7%
Earnings per share	₹1.83	₹2.27	₹1.87	₹1.78	₹1.89	₹1.99	₹0.60	₹1.74	₹2.04	₹2.91	−₹2.39	₹1.79	₹2.43	₹2.19	₹2.19	₹4.75	₹2.82	₹3.27	₹1.73	₹3.05
Diluted earnings per share	₹1.83	₹2.27	₹1.87	₹1.78	₹1.88	₹1.99	₹0.60	₹1.74	₹2.04	₹2.91	−₹2.39	₹1.79	₹2.43	₹2.18	₹2.19	₹4.74	₹2.82	₹3.27	₹1.73	₹3.05

Earnings per share in rupees, restated for later splits and bonuses.

The quarters either side of a change of basis do not compare. From the quarter to Mar 2023, the company's revenue for the year to Mar 2023, ₹3,265 Cr, differs from its quarters added, ₹3,422 Cr.

Segment results by quarter

Consolidated, ₹ crore, quarters to Jun 2026.JM Financial segment results by year

Wealth and Asset Management
Revenue, ₹ crore
369
341
351
398
371
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
44
20
−6
45
17
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Private Markets
Revenue, ₹ crore
390
287
327
294
596
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
377
101
144
118
370
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Corproate Advisory and Capital Markets
Revenue, ₹ crore
215
321
239
170
138
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
96
187
114
52
37
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Affordable Home Loans
Revenue, ₹ crore
101
109
118
128
123
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
17
18
29
34
23
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Treasury and others
Revenue, ₹ crore
107
65
162
42
50
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26
Profit, ₹ crore
58
19
119
−6
8
Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25Mar 26Jun 26

₹ crore	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue of all businesses	1,267	1,309	1,360	1,148	1,272	1,171	1,081	1,181	1,124	1,196	1,033	1,279
Company revenue, as in its results	1,197	1,236	1,261	1,077	1,191	1,106	1,004	1,111	1,031	999	949	1,201
Revenue	–	–	–	–	–	–	–	369	341	351	398	371
Revenue growth	–	–	–	–	–	–	–	–	–	–	–	0.6%
Profit	–	–	–	–	–	–	–	44	20	−6	45	17
Profit growth	–	–	–	–	–	–	–	–	–	–	–	−60.5%
Margin	–	–	–	–	–	–	–	11.9%	5.7%	−1.8%	11.3%	4.7%
Assets	–	–	–	–	–	–	–	5,201	5,158	5,612	6,741	6,936
Liabilities	–	–	–	–	–	–	–	3,979	3,926	4,383	5,474	5,655
Capital employed	–	–	–	–	–	–	–	1,222	1,232	1,229	1,267	1,282
Revenue	–	–	–	–	–	–	–	390	287	327	294	596
Revenue growth	–	–	–	–	–	–	–	–	–	–	–	53.0%
Profit	–	–	–	–	–	–	–	377	101	144	118	370
Profit growth	–	–	–	–	–	–	–	–	–	–	–	−1.9%
Margin	–	–	–	–	–	–	–	96.8%	35.2%	44.0%	40.0%	62.1%
Assets	–	–	–	–	–	–	–	13,594	13,906	13,415	13,448	13,227
Liabilities	–	–	–	–	–	–	–	6,868	7,093	6,588	6,462	6,114
Capital employed	–	–	–	–	–	–	–	6,726	6,812	6,827	6,986	7,113
Revenue	–	–	–	–	–	–	–	215	321	239	170	138
Revenue growth	–	–	–	–	–	–	–	–	–	–	–	−35.9%
Profit	–	–	–	–	–	–	–	96	187	114	52	37
Profit growth	–	–	–	–	–	–	–	–	–	–	–	−61.2%
Margin	–	–	–	–	–	–	–	44.6%	58.2%	47.7%	30.6%	27.0%
Assets	–	–	–	–	–	–	–	861	855	976	1,367	992
Liabilities	–	–	–	–	–	–	–	147	152	186	537	131
Capital employed	–	–	–	–	–	–	–	714	703	790	830	861
Revenue	–	–	–	–	–	–	–	101	109	118	128	123
Revenue growth	–	–	–	–	–	–	–	–	–	–	–	22.1%
Profit	–	–	–	–	–	–	–	17	18	29	34	23
Profit growth	–	–	–	–	–	–	–	–	–	–	–	34.5%
Margin	–	–	–	–	–	–	–	16.8%	16.2%	25.0%	26.9%	18.5%
Assets	–	–	–	–	–	–	–	2,475	2,509	2,619	2,934	3,029
Liabilities	–	–	–	–	–	–	–	1,710	1,729	1,814	2,102	2,178
Capital employed	–	–	–	–	–	–	–	765	780	805	833	851
Revenue	–	–	–	–	–	–	–	107	65	162	42	50
Revenue growth	–	–	–	–	–	–	–	–	–	–	–	−52.9%
Profit	–	–	–	–	–	–	–	58	19	119	−6	8
Profit growth	–	–	–	–	–	–	–	–	–	–	–	−86.6%
Margin	–	–	–	–	–	–	–	54.6%	29.4%	73.6%	−13.4%	15.5%
Assets	–	–	–	–	–	–	–	1,847	2,103	1,903	1,994	1,609
Liabilities	–	–	–	–	–	–	–	544	770	489	604	219
Capital employed	–	–	–	–	–	–	–	1,303	1,333	1,414	1,391	1,389
Revenue	495	487	605	395	556	429	379	–	–	–	–	–
Revenue growth	–	–	140.6%	1.1%	12.2%	−11.9%	−37.4%	–	–	–	–	–
Profit	184	197	395	117	219	195	146	–	–	–	–	–
Profit growth	–	–	249.6%	−13.3%	19.1%	−0.9%	−63.2%	–	–	–	–	–
Margin	37.2%	40.3%	65.4%	29.7%	39.5%	45.4%	38.5%	–	–	–	–	–
Assets	7,708	7,951	7,744	7,213	6,886	6,324	6,106	–	–	–	–	–
Liabilities	4,860	5,010	4,652	4,211	3,818	3,189	2,837	–	–	–	–	–
Capital employed	2,849	2,941	3,092	3,002	3,068	3,135	3,269	–	–	–	–	–
Revenue	367	393	405	361	339	322	295	–	–	–	–	–
Revenue growth	–	–	10.1%	−1.2%	−7.8%	−18.0%	−27.1%	–	–	–	–	–
Profit	28	127	−86	82	−65	23	94	–	–	–	–	–
Profit growth	–	–	–	314.2%	–	−81.8%	–	–	–	–	–	–
Margin	7.6%	32.2%	−21.3%	22.7%	−19.3%	7.1%	31.8%	–	–	–	–	–
Assets	11,707	11,880	12,083	11,267	10,609	10,254	9,202	–	–	–	–	–
Liabilities	7,326	7,334	7,472	6,649	6,050	5,580	5,313	–	–	–	–	–
Capital employed	4,381	4,546	4,611	4,617	4,559	4,674	3,889	–	–	–	–	–
Revenue	238	265	301	283	325	297	308	–	–	–	–	–
Revenue growth	–	–	78.3%	61.5%	36.6%	12.4%	2.6%	–	–	–	–	–
Profit	11	36	58	27	38	20	24	–	–	–	–	–
Profit growth	–	–	–	122.1%	256.9%	−45.1%	−57.8%	–	–	–	–	–
Margin	4.5%	13.7%	19.2%	9.6%	11.8%	6.7%	7.9%	–	–	–	–	–
Assets	4,486	5,029	4,630	5,203	5,618	5,120	5,797	–	–	–	–	–
Liabilities	3,804	4,283	3,681	4,235	4,624	4,113	4,726	–	–	–	–	–
Capital employed	681	746	949	968	994	1,007	1,071	–	–	–	–	–
Revenue	114	111	−38	66	15	86	61	–	–	–	–	–
Revenue growth	–	–	–	−53.3%	−87.1%	−22.6%	–	–	–	–	–	–
Profit	18	20	−974	−12	−64	23	20	–	–	–	–	–
Profit growth	–	–	–	–	–	13.9%	–	–	–	–	–	–
Margin	15.8%	18.4%	–	−17.7%	−434.8%	27.1%	32.9%	–	–	–	–	–
Assets	5,262	4,738	3,277	3,740	3,407	2,968	2,532	–	–	–	–	–
Liabilities	3,584	3,044	2,557	2,369	2,128	1,686	1,243	–	–	–	–	–
Capital employed	1,678	1,694	720	1,371	1,279	1,281	1,288	–	–	–	–	–
Revenue	53	54	50	43	38	37	37	–	–	–	–	–
Revenue growth	–	–	73.0%	−7.9%	−29.2%	−32.1%	−25.0%	–	–	–	–	–
Profit	37	37	35	30	25	26	28	–	–	–	–	–
Profit growth	–	–	8.0%	−8.5%	−32.2%	−31.1%	−20.2%	–	–	–	–	–
Margin	69.9%	69.2%	69.3%	70.3%	66.9%	70.2%	73.7%	–	–	–	–	–
Assets	2,255	2,244	1,977	1,582	1,459	1,540	815	–	–	–	–	–
Liabilities	497	499	346	276	150	217	154	–	–	–	–	–
Capital employed	1,759	1,746	1,631	1,306	1,309	1,323	661	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Q1 results, quarter to Jun 2026

From revenue to net profit, ₹ crore

JM Financial results by quarter

Revenue and net profit by quarter, ₹ crore

Operating and net margin by quarter, per cent

Segment results by quarter

Wealth and Asset Management

Private Markets

Corproate Advisory and Capital Markets

Affordable Home Loans

Treasury and others