Jio Financial Services Q2FY25 net profit jumps 3.1% YoY to ₹689 crore

Jio Financial Services reported decent growth numbers in Q2FY25, as the company's net profit increased by 3% yearly to ₹689 crore, compared to ₹668 crore in the previous year's similar quarter.

The total income for the quarter ended September 2024 jumped 14.4% YoY to ₹694 crore, led by a 10% YoY growth in interest income to ₹204 crore, compared to ₹186 crore in the previous year's similar quarter.

On a half-yearly basis, the total revenue for H1FY25 was ₹1,111 crore, and the total profit was ₹1007 crore.

During the quarter gone by, the company launched various different set products, ranging from loans for mutual funds, home loans, Corporate loans, loans against property, health insurance, salary accounts, and more. The company reported a total AUM of ₹1,206 crore

In addition, Jio Financial Services and BlackRock Advisors Singapore incorporated a joint venture company named ‘Jio BlackRock Investment Advisers on September 6, 2024, to carry on the primary business of investment advisory services subject to regulatory approvals.

Jio Financial Services (JFSL) operates its financial services business through its consumer-facing subsidiaries, Jio Finance (JFL), Jio Insurance Broking (JIBL), Jio Payment Solutions (JPSL), and Jio Payments Bank (JPBL), and its joint venture.

Shares of Jio Financial Services closed in positive at ₹329.6 apiece on the NSE. On a YTD basis shares have given handsome gains of 40% from January 1, 2024.