JMJ Fintech Limited, a non-banking financial company, reported a net profit of ₹1.97 crore in the April-June quarter of the current financial year, marking a 72.48 percent increase from ₹1.14 crore recorded in the corresponding quarter last year. Profit also rose 13 percent sequentially from the previous quarter.
The company’s revenue for the first quarter stood at ₹5.36 crore, up 5.66 percent year-on-year.
JMJ Fintech’s total assets under management (AUM) reached ₹78.23 crore during the quarter. This represents a 9.12 percent increase from the previous quarter and an 82.11 percent rise compared with the corresponding quarter of the previous financial year.
The strong growth in AUM reflects the company’s efforts to expand its lending operations and customer base.
As part of its digital transformation strategy, JMJ Fintech has launched a new digital lending platform, ‘Money Bro’.
The platform aims to provide faster, simpler and more convenient lending services by using digital technology to streamline the traditional lending process. The company expects the platform to help reduce processing time and improve access to financial services for customers across different segments.
‘Money Bro’ is also expected to support the company’s expansion across India by enabling customers to access financial services more conveniently through digital channels.
JMJ Fintech Managing Director Joju Madathumpady Johny said the integration of financial services with technology marks an important step in the company’s transition towards a faster, more customer-friendly and wider-reaching financial services model.
He added that ‘Money Bro’ is expected to play an important role in creating new business opportunities and supporting the company’s growth and market expansion in the coming years.