Jio Financial Services Ltd, today, January 17, declared its earnings for the quarter ended December 31, 2024. The Mukesh Ambani promoted NBFC’s consolidated profit after tax (PAT) in the October-December period stood at Rs 294.78 crore, reporting a flat growth of 0.3 per cent year-on-year (YoY). The company had posted PAT at Rs 293.82 in Q3 FY25.
The company’s revenue stood at Rs 438 crore, registering an increase of 6.1 per cent YoY from Rs 413 crore in the same quarter the previous financial year. AUM of Jio Financial Services in the third quarter of Fy25 stood at Rs 4,199 crore compared to Rs 1,206 core in previous quarter Q2 FY25. The company's net profit declined 57 per cent quarter-on-quarter (QoQ) from Rs 689 crore posted in Q2 FY25. Revenue also fell 37 per cent QoQ from Rs 693 crore in the July-September quarter.
The company's online presence is expanding, as reported by JFSL, with an average of 7.4 million monthly active users (MAUs) engaging across all digital platforms. With operations in seven cities and nine offices, the NBFC continues to grow. Furthermore, JFSL's Payments Bank Business Correspondent network now spans 7,300 outlets.
Jio Financial Services, carved out from Reliance Industries Ltd, is engaged in the business of investing and financing, insurance broking, payment bank and payment aggregator and payment gateway services. The company and BlackRock have agreed to form a joint venture to enter into the asset management industry and filed for final approval. The JV company made an application to the Securities and Exchange Board of India on October 19, 2023, for starting a mutual fund business. Shares of Jio Financial Services today ended at Rs 279.05, up 0.83 per cent from the previous close of Rs 276.75, on the BSE. The stock opened at Rs 279.70, hitting an intra-day high of Rs 281.40 and a low of Rs 275.85, respectively.