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