Jio Financial Services Reports Profitable Q1: Key Acquisitions and Growth in Revenue
Jio Financial Services Ltd reported a 4% increase in net profit, amounting to Rs 325 crore, for the first quarter of 2025, alongside acquiring Jio Payments Bank from SBI. Revenue surged to Rs 619 crore due to increased interest income, while significant expenditures and investments were incurred in their expansion and subsidiary partnerships.
- Country:
- India
Jio Financial Services Ltd (JFSL) marked a significant milestone, recording a consolidated net profit increase of 4% at Rs 325 crore for the quarter ending June 2025, compared to Rs 313 crore in the same quarter last year.
The company's total income demonstrated robust growth, reaching Rs 619 crore, up from Rs 418 crore in the year-ago period. This was primarily driven by a doubling of interest income to Rs 363 crore compared to Rs 162 crore.
Expanding its foothold, JFSL acquired 7.9 crore equity shares of Jio Payments Bank Limited from State Bank of India, making JPBL a wholly-owned subsidiary. Notably, this acquisition led to a fair value gain on remeasurement of Rs 439.16 crore. Furthering its expansion strategy, JFSL also invested in Jio BlackRock Asset Management and obtained SEBI registration for its advisory branch, indicative of its aggressive financial sector outreach.
(With inputs from agencies.)
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