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Gross NPA more than doubled to 3.50 per cent from 1.65 per cent, while net NPA rose to 1.95 per cent from 1.13 per cent.
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JM Financial on Wednesday reported a 35.35 per cent growth in net income for the three months to March 2021 at Rs 176.71 crore.
It had booked a net income of Rs 130.56 crore in the same period of the previous fiscal after the bloodbath in the markets in March 2020 with the onset of the pandemic.
During the quarter, despite the low base last year, its revenue remained flat at Rs 841.13 crore, over Rs 840.58 crore a year ago.
For the full year, net profit rose 8.3 per cent to Rs 590.14 crore from Rs 544.98 crore, the company said in a statement.
Consolidated loan book came down to Rs 10,854 crore from Rs 11,531 crore.
Gross NPA more than doubled to 3.50 per cent from 1.65 per cent, while net NPA rose to 1.95 per cent from 1.13 per cent.
The company has made additional gross provisions of Rs 208 crore towards the pandemic for the year ended March, taking the total provisions to Rs 383 crore on account of COVID-19.
Group Managing Director Vishal Kampani said FY20-21 was one of the most challenging years due to the pandemic yet it could conclude the year on a positive note, banking on its diversified and resilient business model with strong performance across segments.
Investment banking, wealth management and securities businesses have done exceedingly well and the pipeline for these businesses is extremely healthy, he noted.
Despite the pandemic challenges, the company had strong recoveries in the distressed credit business, he added.
(PTI)