JMJ Fintech Limited, a non-banking financial company (NBFC), reported a 72.48% year-on-year increase in net profit to ₹1.97 crore for the April-June quarter of the current financial year, compared with ₹1.14 crore in the corresponding period last year.
According to the company, its net profit also increased by 13% sequentially from the previous quarter, reflecting continued improvement in the company’s financial performance. Revenue for the first quarter stood at ₹5.36 crore, registering a 5.66% increase from the year-ago period.
AUM rises 82% year-on-year
JMJ Fintech said its assets under management (AUM) increased to ₹78.23 crore during the quarter, up 9.12% sequentially and 82.11% compared with the corresponding quarter of the previous financial year.
The sharp rise in AUM comes as JMJ Fintech continues to expand its lending operations and strengthen its customer base.
Digital lending platform launched
JMJ Fintech said it has also strengthened its digital lending capabilities with the launch of ‘Money bro’, a new technology-driven lending platform aimed at making borrowing faster, simpler and more convenient. The platform is designed to streamline the traditional lending process through digital technology, potentially reducing processing time and improving access to financial services across customer segments.
The company expects the platform to play a key role in expanding its presence across India by enabling customers to access lending services through digital channels.
Technology-led expansion strategy
JMJ Fintech Managing Director Joju Madathumpady Johny said the integration of technology with financial services marks an important milestone in the company’s transformation into a faster, more customer-centric and wider-reaching financial services provider.
