Jio Financial Q1 result highlights: Net profit falls nearly 6% YoY, revenue remains flat at ₹418 crore

• Consolidated net profit for the quarter declined by 5.7% YoY to ₹313 crore as against ₹332 crore in Q1FY24.
• The total revenue for the quarterly increased moderately by 0.97% to ₹418 crore as against ₹414 crore in Q1FY24.

• Key leadership identified
• Infrastructure and tech platforms in advanced phases of development
• GTM strategy and building blocks in advanced stages
• Jio Financial Services has 50-50 joint venture with BlackRock to launch asset management, wealth management and broking businesses.

• Tie up with 31 insurance companies.
• Launched digital auto and two-wheeler insurance on app.
• Expanded business correspondents (BC) network with approval of approximartely 16,000 BC outlets
• Achieved 1million+ Current Account and Savings Account (CASA) customers and 0.5 million Jio app downloads since launch.
• Started vendor financing segment in May 2024.

• The total interest earned for the quarter declined by 20% YoY and 42% sequentially at ₹162 crore.
• The net gain on fair value changes increased by 25% YoY and 101% sequentially at ₹218 crore.

• On a sequential basis total consolidated largely remained unchanged at ₹418 crore for Q1FY25 as against similar in Q4FY24.
• On bottom-line, the net profit for the quarter rose marginally on sequential basis to ₹313 crore vs ₹311 crore in Q4FY24.

• Consolidated net profit for the quarter declined by 5.7% YoY to ₹313 crore as against ₹332 crore in Q1FY24.
• The total revenue for the quarterly increased moderately by 0.97% to ₹418 crore as against ₹414 crore in Q1FY24.

Last week, Jio Financial Services received approval from the Reserve Bank of India (RBI) to change from a non-banking financial company (NBFC) to a core investment company.

• Traded volume: ₹154.88 lakh
• Traded value: ₹548.19 crore
• Total market capitalisation: ₹2,25,986.32 crore
• Face value: ₹10

Jio Financial Services shares, which closed 1.5% higher on Friday, have gained 52.1% year-to-date. In the last six months, the stock rose 43.7%. It has dipped 2.7% in the last three months.

• Loans
• Insurance broking
• Payments bank
• Payment solutions

• Current price: ₹352.9 (+0.7%)
• Open: ₹354.3
• High: ₹355.2
• Low: ₹351.7
• Previous close: ₹350.3

• Hitesh Kumar Sethia, Managing Director and Chief Executive Officer
• Charanjit Attra, Group Chief Operating Officer
• Manish Kumar Singh, Group Chief Human Resources Officer
• Abhishek Pathak, Group Chief Financial Officer
• V Mohana, Group Company Secretary and Compliance Officer

• Kundapur Vaman Kamath, Independent Director and Non-executive chairman
• Isha M Ambani, Non-Executive Director
• Rajiv Mehrishi, Independent Director
• Sunil Mehta, Independent Director
• Bimal Manu Tanna, Independent Director
• Rama Vedashree, Independent Director
• Anshuman Thakur, Non-Executive Director
• Hitesh Kumar Sethia, Managing Director and Chief Executive Officer

• Current price: ₹352.1 (+0.5%)
• Open: ₹354.3
• High: ₹355.2
• Low: ₹351.7
• Previous close: ₹350.3

In Q4 FY24, the Mukesh Ambani-led company had reported a net profit of ₹310 crore. Its net interest income stood at ₹280 crore for the March quarter.