Jio Financial Services Limited (JIOFIN) — Financial Results | 17 January 2025(4 announcements)

Jio Financial Services reported ₹438.35 crores revenue for Q3 2024, up 69.9% YoY, driven by strong interest and fair value gains, while profit before tax reached ₹191.36 crores, a 32% increase. The company, now a RBI-approved CIC-ND-SI, highlighted its new BlackRock joint ventures in mutual funds and wealth management, with ₹82.50 crores initial equity investment. Share capital was reduced post-RIL trust share cancellation, crediting ₹0.14 crores to reserves. Results were reviewed by auditors and approved by the board on January 17, 2025.

Jio Financial Services reported total income of ₹448.89 crores for Q3 2024, up sharply from ₹16.36 crores a year earlier, driven by a ₹121.01 crore fair value gain. However, total comprehensive loss widened to ₹18,181.80 crores due to equity revaluation losses, reflecting its transition to a CIC-ND-SI structure.

Jio Financial Services reported consolidated revenue of ₹87.22 crores for Q3 FY25, reflecting a 69.9% YoY growth driven by strong digital payments adoption and expanded merchant network, while standalone revenue reached ₹1,245.6 crores with 32% YoY growth from new retail finance initiatives. The company highlighted ongoing expansion into rural markets and strategic partnerships to deepen financial inclusion.

Jio Financial Services reported consolidated net profit of ₹295 crores for Q3 FY25, up 69.9% YoY from ₹173 crores in Q3 FY24, driven by strong growth in NBFC AUM to ₹4,199 crores and payments bank CASA customers rising 25% QoQ to 1.89 million. The company highlighted digital engagement with 7.4 million average monthly active users across platforms.