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Jio Financial Services Shares Up 0.17% Today; Flat Performance Over Last 2 Sessions

Updated on: Dec 26, 2024, 6:28 PM IST
Jio Financial Services' stock rose 0.17% today, after ending unchanged in the last two sessions compared to its previous close.
Jio Financial Services Shares Up 0.17% Today; Flat Performance Over Last 2 Sessions
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

On December 26, 2024, Jio Financial Services’ share price traded 0.15% higher at ₹305.15 by 12:30 PM. The stock opened at ₹304.70 and rose 0.5%, reaching a day’s high of ₹306.70 during early trade. Since the start of this week, the stock has recorded a gain of 0.13%.

Jio Financial Services’ Subsidiary Receives RBI Approval

The company’s last corporate announcement was made in October 2024, where it disclosed that Jio Payment Solutions Limited (JPSL), a wholly owned subsidiary of Jio Financial Services, had received a certificate of authorisation from the Reserve Bank of India.

This approval, granted on October 28, 2024, allows JPSL to operate as an ‘Online Payment Aggregator’ under the Payment and Settlement Systems Act, 2007, enabling it to offer payment aggregation services.

 

Q2 FY25 Financial Highlights

For the quarter ended September 30, 2024, Jio Financial Services reported a 3.13% year-on-year increase in its consolidated net profit, reaching ₹689.07 crore, compared to ₹668.18 crore in Q2 FY24.

The company’s total income saw a notable rise of 14.11%, reaching ₹693.85 crore, up from ₹608.04 crore in the same quarter last year. Additionally, interest income grew by 19.88% to ₹204.98 crore.

Despite a significant 104.49% increase in total expenses, which included a 117.3% surge in employee benefits, the company managed to improve its pre-provisioning operating profit, which rose by 2.79% to ₹552 crore.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Dec 26, 2024, 12:23 PM IST

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