Jio Financial Services Q4 results: Net profit rises nearly 6% QoQ to ₹310.63 crore

Jio Financial Services reported nearly a 6% jump in net profit quarter-on-quarter (QoQ) in the three-month period ending March 31, 2024.

The non-bank financial company (NBFC) of Reliance Group reported a consolidated net profit of ₹310.63 crore, marking a 5.76% jump QoQ from the ₹293.82 crore recorded in the previous quarter ending December 2023.

In its earnings report released for the quarter and the financial year ending March 31, 2024, the company reported 4.33% rise in its net interest income (NII) at ₹280.74 crore in Q4FY24 as against ₹269.08 crore in the preceding quarter.

Jio Financial Services’ total income almost remained flat QoQ at ₹418.18 crore, for the January-March 2024 period. In comparison, in the previous quarter, the company’s total income was at ₹414.33 crore.

For the full financial year 2023-24 the company’s net profit jumped multi-fold to ₹1,604.55 crore as against 31.25 crore. Its total income stood at ₹1,854.68 crore for the financial year ending March 31, 2024, compared to ₹44.84 crore in the preceding financial year.

Jio Financial Services announced its results after market close on April 19.

Shares of the company ended the day 2.22% lower at ₹370 apiece on the NSE.