Jio Financial Services Ltd Share Price – NSE  /  BSE

Finance, Mid Cap

The company’s interest income stood at Rs 280 crore for the quarter. Its total income came in at Rs 418 crore and revenue at Rs 418 crore.

In Q3 FY24, JioFin had recorded interest income and total income of Rs 269 crore and Rs 414 crore, respectively.

On the assets front, the company’s total loans, as on 31 March 2024, stood at Rs 173 crore as against Rs 41 crore as on 31 March 2023.

Cash & bank balances aggregated to Rs 10,960 crore and investments added up to Rs 1,33,292 crore as on 31 March 2024.

The company, in its investor presentation for the quarter, said that it currently operates in the vender financing business and has home loans, loans against property and loans against mutual funds in the pipeline.

Jio Financial Services is a non-banking financial company registered with the Reserve Bank of India and engaged in business of finance, trading in futures and options, trading / investments in shares and securities.

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The company’s interest income stood at Rs 280 crore for the quarter. Its total income came in at Rs 418 crore and revenue at Rs 418 crore.

In Q3 FY24, JioFin had recorded interest income and total income of Rs 269 crore and Rs 414 crore, respectively.

On the assets front, the company’s total loans, as on 31 March 2024, stood at Rs 173 crore as against Rs 41 crore as on 31 March 2023.

Cash & bank balances aggregated to Rs 10,960 crore and investments added up to Rs 1,33,292 crore as on 31 March 2024.

The company, in its investor presentation for the quarter, said that it currently operates in the vender financing business and has home loans, loans against property and loans against mutual funds in the pipeline.

Jio Financial Services is a non-banking financial company registered with the Reserve Bank of India and engaged in business of finance, trading in futures and options, trading / investments in shares and securities.

The scrip had slipped 2.17% to end at Rs 370 on the BSE on Friday.

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Net profit of Jio Financial Services rose 237.65% to Rs 77.76 crore in the quarter ended March 2024 as against Rs 23.03 crore during the previous quarter ended March 2023. Sales rose 691.61% to Rs 140.51 crore in the quarter ended March 2024 as against Rs 17.75 crore during the previous quarter ended March 2023.

For the full year,net profit rose 1123.90% to Rs 382.47 crore in the year ended March 2024 as against Rs 31.25 crore during the previous year ended March 2023. Sales rose 1432.69% to Rs 638.06 crore in the year ended March 2024 as against Rs 41.63 crore during the previous year ended March 2023.

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The JV entity would undertake wealth business including incorporation of a wealth management company and subsequent incorporation of a brokerage company in India.

In July last year, JioFin had announced the formation of a 50:50 joint venture with Blackrock for transforming India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India.

The launch of the wealth management and broking business is subject to regulatory and statutory approvals,” JioFin said in a statement.

Jio Financial Services is a non-banking financial company registered with the Reserve Bank of India and engaged in business of finance, trading in futures and options, trading / investments in shares and securities.

The company reported 56.03% decline in consolidated net profit to Rs 293.82 crore in Q3 FY24, as compared with Rs 668.18 crore in Q2 FY24. Total income fell 31.86% to Rs 414.33 crore from Rs 608.04 crore posted in the previous quarter same fiscal.

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