Jio Financial Services shares fall nearly 2% as Q2 earnings fail to impress investors; check all numbers

The Reliance Group firm on Thursday posted a 0.87% year-on-year (YoY) increase in its net profit to ₹695 crore in the September quarter (Q2 FY26) from ₹689 crore in the year-ago period.

The company reported a total revenue from operations of ₹981 crore for the reporting quarter, up 41.5% from ₹694 crore in Q2 FY25. Its interest income rose to ₹392 crore during the July-September quarter against ₹205 crore in the same period in the previous fiscal quarter.

On the operational level, Jio Financial Services’ earnings before interest, taxes, depreciation, and amortisation (EBITDA), also known as operating profit, gained 24.4% to ₹689 crore in Q2 FY26 as compared to ₹554 crore in the corresponding quarter of the previous fiscal year.

In Q2 FY26, its EBITDA margin, however, contracted to 70.2% in contrast to 79.81% on a year-on-year (YoY) basis.

Jio Financial Services’ September quarter earnings failed to impress investors, leading its shares to dip in Friday’s trading. At 10:30 AM, Jio Financial Services shares were trading at ₹308.20 apiece, falling 1.25%.

The assets under management (AUM) of the NBFC in the reporting quarter stood at ₹14,712 crore, up from ₹1,206 crore in Q2 FY25. The AMC’s assets under management (AUM) stand at ₹15,980 crore, and its first actively managed flexi-cap fund raised about ₹1,500 crore.

The NBFC firm said it reported robust business growth and strong execution momentum in the second quarter of FY26, as net income from business continued to grow.

In the reporting quarter, the company accelerated new product launches and further expanded its omni-channel distribution network.

The payments bank’s network of Business Correspondents (BCs) surged to around 200,000 in Q2 FY26, up from just 2,307 in Q2 FY25. Its customer base reached 2.95 million, while deposits climbed to ₹421 crore, both nearly doubling year-on-year.

Jio BlackRock Asset Management Private Limited, a 50:50 JV between JFSL and BlackRock, launched six funds during the quarter. This included its maiden active equity fund, powered by BlackRock’s proprietary, AI-based Systematic Active Equity approach.

Commenting on the earnings, Hitesh Sethia, Managing Director and CEO, JFSL, said: "The significant growth in business income is a direct result of the initiatives taken over the last few quarters towards scaling up profitably, by pursuing a risk-calibrated growth strategy. Our expanding user base is a validation of the enthusiasm with which our offerings have been met in the market.”

Sethia further added, “As we design financial services of the future for all Indians, we are actively leveraging next-gen AI and analytics to position JioFinance as a trusted, intelligent, and simplified digital platform that delivers personalised and fit-for-purpose products to each individual customer. The results of these efforts would become more pronounced over the coming quarters.”