Jio Financial Services Q4 Results: Profit Up 1.8%
The company's board recommended a dividend of Re 0.50 per equity share of Rs 10 each for the financial year ended March 31, 2025.
Jio Financial Services Ltd. on Thursday reported that its consolidated net profit for the fourth quarter of the financial year 2024-25 rose by 1.8% to Rs 316.1 crore.
In comparison, the company's consolidated net profit stood at Rs 310.6 crore during the previous fiscal's similar quarter.
Jio Financial Services' profit in the third quarter of 2024-25 fiscal was Rs 295 crore, it said in a regulatory filing.
Its total income for the quarter under review rose by 24% to Rs 518 crore, against Rs 418 crore that the company had reported for the similar period in the previous fiscal.
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.
For the full 2024-25, the company's net profit also improved marginally to Rs 1,612.6 crore, as against Rs 1,604.6 crore in 2023-24.
Meanwhile, the company’s board has recommended a dividend of Re 0.50 per equity share of Rs 10 each for the financial year ended March 31, 2025.
Jio Financial Services is engaged in the business of investing and financing, insurance broking, payment bank and payment aggregator and payment gateway services.
According to the company’s investor presentation, it had incorporated Jio BlackRock Investment Advisers Pvt. to offer wealth management services in September 2024. In March 2025, the company had filed an application with SEBI for registration as an investment advisor.
It added that Jio BlackRock Broking Pvt.—incorporated in January 2025 to offer broking services—had also separately filed an application with the markets watchdog for a broking licence in the same month.
Jio Financial also stated that the recruitment of CXOs for wealth management and broking was in progress.
Shares of Jio Financial Services Ltd. closed 1.73% higher at Rs 246.45 apiece on the BSE, compared to a 1.96% advance in the benchmark Sensex. However, the company had announced its financial results after the stock markets had closed for Thursday.
(With PTI inputs)
