Shares of Jio Financial Services Ltd. rose more than 3.5% in intraday trade on Friday after the company reported a more than two-fold increase in first-quarter profit, supported by business growth and a fair value gain related to Jio Payments Bank.
The stock traded at Rs 243.90 on the NSE at around 11:47 a.m., up Rs 8.25, or 3.5%, from its previous close of Rs 235.65. During the same period, the Nifty 50 advanced 0.8%.
The earnings come as investors monitor the company's expansion across lending, asset management and digital payments. Market participants are watching whether growth in assets under management, the loan book and the payments business can be sustained while supporting profitability.
Profit Jumps, Lending and Asset Management Expand
Jio Financial Services reported a consolidated net profit of Rs 830 crore for the quarter ended June 2026, compared with Rs 325 crore a year earlier. Revenue from operations increased to Rs 2,004 crore from Rs 619 crore in the corresponding period last year.
Quarterly profit included a fair value gain of Rs 439.16 crore from the remeasurement of its investment in Jio Payments Bank Ltd. following the acquisition of the business by its parent. The gain was higher than the goodwill of Rs 410.59 crore recognised for the transaction.
The company's lending business continued to expand, with assets under management more than doubling year on year to Rs 30,667 crore.
Its asset management business also recorded growth, with assets under management rising 21% from the previous quarter to Rs 18,412 crore. Liquid fund assets under management crossed Rs 10,000 crore during the quarter.
Allianz Jio Reinsurance Ltd. reported gross written premiums of Rs 266 crore in its first full quarter of operations.
"The performance for the quarter reflects the accelerating momentum across the entire business portfolio, led by sustainable loan book growth at Jio Credit Limited, JFSL's lending franchise, alongside the scaling up of the asset management and payments businesses," the company said in an exchange filing.
It added that its presence across lending, payments, investment solutions and insurance was supported by higher digital engagement on the JioFinance app, while treasury operations continued to provide capital for its early-stage joint ventures.
Stock Remains Below Year-Ago Levels
Despite Friday's gains, Jio Financial Services shares have declined more than 23% over the past year. The Nifty 50 has fallen 3.4% during the same period.
The stock traded at a price-to-earnings ratio of 86.7 based on the previous session's closing price. The company had a market capitalisation of Rs 1,61,288.4 crore at the close of the previous session.
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