JM Financial has posted a consolidated net profit of Rs 45.77 crore for the quarter ended 31 March, up 39%, when compared to Rs 33.03 crore recorded in the same quarter, last year.

Total income of the group rose to Rs 209.19 crore in the fourth quarter of FY08 from Rs 123.51 crore in the same period last year.
For the year ended March 31, 2008 the company reported a consolidated net profit of Rs 150.11 crore, an increase of 65 per cent, compared with net profit of Rs 90.86 crore in previous fiscal.

JM Financial is an integrated financial services group, offering a wide range of services to a significant clientele that includes corporations, financial institutions, high net-worth individuals and retail investors.

The company’s board of directors has recommended a dividend of Rs 5 per share (50 %) and a special dividend of Rs 20 per share (200%), on sale of 49% equity stake in Morgan Stanley India Company to Morgan Stanley.

The company has also approved the issue of bonus shares in the ratio of three shares for every two held. Further, it has decided to go for a share split, from the existing Rs 10 per share to Re 1 per share.