Sharp rise in profit, JMJ Fintech to widen network

A non-banking financial institution JMJ Fintech Ltd has posted significant profit growth for the second quarter of the 2024-25 financial year. The company reported a profit of Rs 1.67 crore for the July-September period, marking a 262% increase compared to the same quarter last year.

Higher profit growth

For the first half of the financial year, JMJ Fintech's profit reached Rs 3.49 crore, reflecting a 437% growth over the same period in the previous financial year.

Gross revenue for the second quarter stood at Rs 3.74 crore, up 1% from the previous quarter and 154% higher than the corresponding quarter of the previous fiscal year. The company’s half-yearly gross revenue amounted to Rs 7.43 crore, an increase of 229% compared to the first half of FY 2023-24.

Total loans under management at the end of the quarter were Rs 25.70 crore, showing a 41% growth compared to the same quarter last year.

Stock market performance

The company has also seen positive movement in the stock market, contributing to its overall strong performance for FY 2024-25.

In a statement, JMJ Fintech's Managing Director, Joju Madathumpadi Johny, confirmed that the company plans to open additional branches in South India in the next quarter.