Jio Financial Q3 Results: Net Profit Flat YoY, Revenue Up 6%

Jio Financial Q3 Results: Net Profit Flat YoY at ₹295 Crore, Revenue Up 6%

Q3 Financial Performance

Jio Financial Services reported a consolidated net profit of ₹295 crore for the quarter ended December 31, 2024, which remained flat compared to the ₹294 crore reported in the same quarter last year. The Mukesh Ambani-led company posted a total revenue of ₹438 crore in Q3FY25, a 6% increase from ₹414 crore in the corresponding quarter of the previous fiscal year.

However, the net profit experienced a 57% quarter-on-quarter decline compared to ₹689 crore in Q2FY25. This drop was primarily due to a 37% sequential decrease in revenue. Revenue for the July-September quarter was ₹693 crore.

Revenue Breakdown

Jio Fin's interest income for Q3FY25 was ₹210 crore, a decrease from ₹270 crore in the same period last year, representing a 22% year-on-year decline. The fees and commission income was ₹37 crore, a 10% decrease both on a QoQ and YoY basis. Expenses for the October-December quarter rose to ₹119 crore from ₹98 crore in Q3FY24, but decreased from ₹142 crore in Q2FY25.

Assets Under Management (AUM)

The company's assets under management (AUM) stood at ₹4,199 crore as of December 31, 2024, compared to ₹1,206 crore in Q2 FY25.

Key Highlights

• NBFC AUM: Surged 248% compared to ₹1,206 crore in Q2FY25.
• Expansion: Jio Financial is now present in 7 cities with 9 offices.
• Payments Bank CASA Customers: Increased to 1.89 million, with 25% QoQ growth.
• Insurance Broking: Expanded across multiple categories and three channels.
• Digital Engagement: Average MAU (Monthly Active Users) across digital platforms is 7.4 million.
• Payments Bank Network: Business Correspondent network expanded to 7,300 outlets.
• Customer Acquisition: Marketing tie-up with MyJio app for customer acquisition.

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