Jio Financial Services share price dips as Q3 profit remains flat
The shares of Jio Financial Services Limited were trading at ₹277.20 down by ₹1.85 or 0.66 per cent on the BSE today at 12.50 pm.
Jio Financial Services (JFS) reported a flat consolidated net profit of ₹295 crore for the third quarter of FY25, compared to the same period last year. The company’s Assets Under Management (AUM) saw a significant surge to ₹4,199 crore, marking a 248 per cent increase from ₹1,206 crore in Q2.
The financial services arm of Reliance Group recorded a total income of ₹449 crore in Q3, with interest income contributing ₹210 crore and net gain on fair value changes at ₹191 crore. Total expenses for the quarter stood at ₹119 crore. This performance follows a stronger Q2FY25, which had posted a net profit of ₹689 crore, boosted by a ₹241 crore dividend from a subsidiary.
The company’s payment bank subsidiary showed robust growth, with current account and savings account customers increasing 25 per cent quarter-on-quarter to 1.89 million. The average monthly user base across JFS digital properties reached 7.4 million.
JFS, which currently offers home loans, loans against property, mutual funds, corporate loans, and insurance services through its subsidiaries, has applied for a third-party application provider (TPAP) license with the Reserve Bank of India for its JioFinance app.
