Jio Financial Services Ltd Share Price – NSE  /  BSE

Finance, Mid Cap

S. Anantharaman is a banker with over 30 years of experience in managing credit, market and operational risks. He is an associate member of Institute of Chartered Accountants of India and Chartered Financial Analyst and his extensive expertise is grounded in both theoretical and practical knowledge of best risk management practices.

Most recently, he was working at Bank of Baroda, as CRO where he implemented well-developed risk management practices.

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 NBFC reported a net profit of Rs 311 crore in Q4 FY24 as against a PAT of Rs 294 crore posted in Q3 FY24. The company’s interest income stood at Rs 280 crore for the quarter. Its total income came in at Rs 495.79 crore and revenue at Rs 418 crore.

Shares of Jio Financial Services shed 0.96% to Rs 359.60 on the BSE.

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Jio Financial Services has appointed S. Anantharaman as Group Chief Risk Officer of the Company, for a period of 5 years, with effect from 19 June 2024.

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Jio Financial Services announced the launch of their JioFinance app (in âeta mode), a cutting-edge platform revolutionising daily finances and digital banking. This app seamlessly integrates digital banking, UPI transactions, bill settlements, insurance advisory, and offers a consolidated view of accounts and savings, all in one user-friendly interface.

Designed for friction-less navigation, JioFinance app will cater to users of all levels of familiarity with financial technology, ensuring effortless money management on finger-tips.

Future plans include expanding loan solutions, starting with Loans on mutual funds and progressing to home loans, demonstrating a commitment to evolving customer needs.

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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.

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