Jio Financial Services Q4 stats: Fetches net profit of Rs 310 cr, NII at Rs 280 cr
The company, which went public in August 2023, declared net profit of Rs 293 crore and net interest income of Rs 269 crore for the previous quarter. It brought in Rs 413 crore in revenue and Rs 414 crore in interest income overall.
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On April 19, Jio Financial Services announced a net profit of Rs 310 crore for the fiscal year 2023–2024’s January–March quarter. Its revenue was Rs 418 crore, and its total income was Rs 418 crore.
The company, which went public in August 2023, declared net profit of Rs 293 crore and net interest income of Rs 269 crore for the previous quarter. It brought in Rs 413 crore in revenue and Rs 414 crore in interest income overall.
Jio Financial Services’ shares ended the day 2.17 percent lower at Rs 370 per on the BSE. Prior to today, on Thursday, April 18, the stock achieved a record closing high of Rs 378.4, up 4.6 percent, and on the daily charts, it created a bullish candlestick pattern with volumes above average. In the quarter’s investor presentation, the company stated that its total loans were Rs 173 crore, up from Rs 41 crore in the same time the previous year.
JFS-Blackrock Company
On April 15, Jio Financial Services announced that it has partnered with US company BlackRock in a 50:50 venture to provide wealth management and broking services in India.
Prior to this, in July 2023, Jio Financial Services and BlackRock announced that they will be forming a 50:50 joint venture to enter the asset management industry in India with a $150 million investment each.
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