Jio Financial Services rise by 4%, hit 52-week high, post Q4 earnings
Upstox
2 min read • Updated: April 22, 2024, 2:22 PM
Summary
Jio Financial Services announced its Q4 results on Friday, April 19, 2024. The company announced a net profit of ₹311 crore for the last quarter of FY24. The company's net interest income (NII) for the quarter was ₹280 crore and its total revenue stood at ₹418 crore.
Shares of Jio Financial Services Ltd on Monday climbed 4% to hit the 52-week high level after the company reported a 6% increase in consolidated net profit for the fourth quarter ended March 2024.
The stock jumped 4% to ₹385 -- its 52-week high -- on the BSE.
On the NSE, the company's stock climbed 3.98% to hit the 52-week high of ₹384.85.
Jio Financial Services Ltd on Friday reported a 6% increase in consolidated net profit to ₹311 crore for the fourth quarter ended March 2024 on the back of improvement in income.
To know more about the Q4 results of Jio Financial Services, click here.
The financial services company demerged from Reliance Industries Ltd, had reported a profit of ₹294 crore for the December quarter.
On an annual basis, the company's consolidated net profit jumped multi-fold to ₹1,605 crore in FY24 against ₹31 crore in the preceding fiscal, Jio Financial Services said in a regulatory filing.
Its revenue improved marginally to ₹418 crore from ₹414 crore in the December quarter.
Its expenses also increased marginally to ₹103 crore against ₹99 crore in the third quarter.
Jio Financial Services is engaged in the business of investing and financing, insurance broking, payment bank and payment aggregator, and payment gateway services.
With inputs from PTI.