Latest News | Jio Financial Services Q4 Net Profit Up 1.8 Pc to Rs 316 Cr

New Delhi, Apr 17 (PTI) Jio Financial Services Ltd on Thursday said its consolidated net profit rose 1.8 per cent to Rs 316.11 crore for the March quarter.

The company had earned a consolidated net profit of Rs 310.63 crore in the same quarter of the previous 2023-24 fiscal year. Its profit in the third quarter of 2024-25 fiscal year was Rs 295 crore, Jio Financial Services said in a regulatory filing.

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Total income increased to Rs 518 crore, from Rs 418 crore in the fourth quarter of the previous fiscal year, a year-on-year growth of 24 per cent.

Total expenses also witnessed a year-on-year increase at Rs 168 crore as compared to Rs 103 crore in the same quarter a year ago.

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For the full 2024-25, the company's net profit also improved marginally to Rs 1,612.59 crore, as against Rs 1,604.55 crore in 2023-24.

The board of the company recommended a dividend of Rs 0.50 per equity share of Rs 10 each for the financial year ended March 31, 2025.

Jio Financial Services, carved out from Reliance Industries Ltd, is engaged in the business of investing and financing, insurance broking, payment bank and payment aggregator and payment gateway services.

In its investor presentation, the company said it had incorporated Jio BlackRock Investment Advisers Pvt Ltd to offer wealth management services in September 2024. In March 2025, the company has filed application with Sebi for registration as investment advisor.

Separately, Jio BlackRock Broking Pvt Ltd, which was incorporated in January 2025 to offer broking services, has filed application with Sebi for broking licence in March 2025.

Recruitment of CXOs for wealth management and broking in progress, Jio Financial said.

Shares of Jio Financial Services closed at Rs 246.45, up 1.73 per cent over the previous close on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)