JMFINANCIL

increases stake in JMFCSL, its non-deposit taking NBFC arm to 97%. Financial services company JM Financial's shares were higher by above 2 percent on March 26, after the company's increased stake in its non-deposit taking NBFC arm JM Financial Credit (JMFCSL) by 1.38 percent for Rs 41 crore, taking its holding to 97.02 percent."The Company’s share in the consolidated profits shall increase and accordingly shall have enhanced control of JMFCSL including capital allocation and distribution of profits," JM Financial said. Before this transaction, JM Financial had signed a Share Purchase Agreement (SPA) with INH Mauritius 1 to acquire 5.97% of equity share capital of JM Financial Credit Solutions (JMFCSL) for Rs 178 crore. The transactions are part of a restructuring of its subsidiary holdings to improve control and streamlining operations. In its Q3FY25 earnings report, JM Financial reported a 21.5 percent year-on-year (YoY) decline in net profit at Rs 70.5 crore. The revenue from operations declined by 3.8 percent to Rs 209.2 crore, down from Rs 217.5 crore in the same period last year.