Jio Financial Q2 Results: Net Profit Flat Even As Total Income Jumps 45%

Jio Financial Services Ltd. reported on Thursday that its consolidated net profit for the second quarter of financial year 2026 rose 0.9% to Rs 695 crore.

In comparison, the company's consolidated net profit stood at Rs 689 crore during the previous fiscal's similar quarter.

Its total income for the quarter under review rose 44.5% to Rs 1,002 crore, against Rs 694 crore that the company had reported for the similar period in the previous fiscal.

The Reliance Group firm was demerged and listed as a separate entity in August 2023. The company is primarily engaged in the business of investing and financing, insurance broking, payment bank and payment aggregator and payment gateway services.

Jio Financial in September raised Rs 3,956 crore from its promoter group after a warrants issue. The NBFC allotted 50 crore warrants worth Rs 3,956.25 crore on a preferential basis to its two promoter group entities, marking a significant capital infusion.

Each warrant was priced at Rs 316.50, with a 25% of the issue price paid upfront. The warrants were distributed equally between Sikka Ports & Terminals Ltd. and Jamnagar Utilities & Power Pvt. Ltd. Each entity received 25 crore warrants.

Earlier this year, it was announced that billionaire Mukesh Ambani and his promoter group will infuse Rs 15,825 crore in Jio Financial Services, which makes them hold over 51% stake in the financial services firm.

The quarterly earnings was shared after market hours. The stock settled 0.18% lower at Rs 312.10 apiece on the NSE, compared to a 1.03% advance in the benchmark Nifty 50.

Jio Financial Services shares have fallen 6.46% in the last 12 months and risen 4.49% year-to-date.

The one analyst tracking the company recommends a 'hold' rating, according to Bloomberg data. The average 12-month consensus price target of Rs 325 implies an upside of 4.1%.