Jio Financial Services was listed on the stock market on August 21, 2023, with shares listed at ₹265 on the BSE and ₹262 on the NSE. Currently, it is trading at ₹305.00, reflecting a slight increase of ₹0.30 (0.098%) as of 12:19 PM on December 24, 2024. The stock opened at ₹304.70, reached a high of ₹307.00, and a low of ₹303.80 during the day.
Over the past 5 days, the Jio Financial Services share price has declined by ₹28.40 (8.52%), and in the last month, it has fallen by ₹18.25 (5.65%). Over the past 6 months, the stock has seen a significant decrease of ₹50.35 (14.17%). However, on a year-to-date basis, it has gained ₹70.45 (30.04%), and over the past year, it has increased by ₹70.20 (29.91%).
Jio Financial Services Limited (JFSL) reported a 3.1% rise in consolidated net profit to ₹689 crore, up from ₹668 crore in the same period last year. Revenue from operations grew by 14% to ₹693.5 crore, compared to ₹608.04 crore in Q2FY24. The company’s expenses, however, doubled to ₹146 crore from ₹71 crore. Net profit also surged by 120% compared to ₹312.63 crore in Q1FY25. Interest income rose to ₹205 crore.
JFSL, in partnership with BlackRock, the world’s largest asset manager, received in-principle approval from SEBI to set up a mutual fund business. Their joint venture, Jio BlackRock, aims to enter India’s asset management sector.
JFSL’s subsidiary, Jio Finance Ltd, launched home loans and loan products against mutual funds in July. In September, they introduced loans against property, loans on securities, and term life insurance products. They also launched an upgraded version of the JioFinance app with new features for loans and digital payments.
Jio Financial Services Ltd (JFSL) was initially set up as Reliance Strategic Investments Private Ltd in July 1999 under the Companies Act 1956. The company was re-incorporated as Jio Financial Services Ltd on July 23. JFSL is a Non-Banking Financial Company (NBFC-ND-SI) registered with the Reserve Bank of India (RBI). It is a holding company and will manage its financial services operations through its subsidiaries, including Jio Finance Ltd (JFL), Jio Insurance Broking Ltd (JIBL), and Jio Payment Solutions Ltd (JPSL), along with its joint venture, Jio Payments Bank Ltd (JPBL).
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Published on: Dec 24, 2024, 12:51 PM IST
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