Jio Financial Services shares in focus as firm to declare Q3 results today; here's how it fared in Q2 FY25

Jio Financial Services Q2 FY25 Results

The company reported a marginal 3% rise in net profit to ₹689 crore in the second quarter ended September 2024.

Total income increased to ₹694 crore as against ₹608 crore logged in the same quarter a year ago, Jio Financial Services said in a regulatory filing.

However, total expenses doubled to ₹146 crore as against ₹71 crore in the same period in the previous year.

Jio Financial Services Ltd under the application made to the RBI seeking registration as a Core Investment Company (CIC), received the necessary approval and certificate of registration on July 9, 2024, from the RBI, and thereby it has become a non-deposit-taking, systemically important core investment company (CIC-ND-SI) with effect from that date, it said.

Its subsidiary, Jio Finance Ltd launched a home loan product and a loan against mutual funds in July 2024.

Jio Financial Services Ltd and BlackRock Inc. had agreed to form a joint venture for the asset management company.

The company launched a loan against property (LAP), a loan on securities, and a life insurance (term) product in September.

In August 2024, RIL Chairman and Managing Director Mukesh Ambani said that Jio Financial Services (JSFL) will lead the way in shaping a prosperous and inclusive financial future for India by focussing on technology and developing tailor-made products.

In a message to shareholders, Ambani said the company's focus remains firmly on innovation, growth, and fostering financial literacy across the nation.

"We are expanding our portfolio of services, elevating user experience, and harnessing the power of cutting-edge technology to simplify and personalise financial management for our valued customers," he said in the inaugural Annual Report of JFSL released on Thursday.

The mission is to revolutionise the way financial services are delivered and experienced in India, and the company has laid a strong foundation by integrating technology with a customer-first approach, resulting in seamless, secure, and innovative financial solutions, Ambani added.

Shares of the company have rallied 14% in the past 12 months.