Jio Financial Services reported a mixed set of numbers for the December quarter, with sharp growth in core operating income but a decline in profitability. Net profit for the third quarter came in at Rs 269 crore, down 9% year-on-year from Rs 295 crore a year-ago.
Revenue from operations rose to Rs 901 crore in Q3FY26, more than double from Rs 438 crore reported in the year ago period. This is an increase of 106%.
On a quarter-on-quarter basis, profit declined 61% from Rs 695 crore in the September quarter. On a sequential basis, total income declined 10% from Rs 1,002 crore posted in Q2FY26. Compared with the preceding quarter, operating revenue fell 8%.
Interest income surged 140% YoY to Rs 504 crore, reflecting the scaling up of the lending book. Fee, commission and other services income jumped sharply to Rs 182 crore from Rs 37 crore a year ago, marking a growth of 394%. Net gains on fair value changes stood at Rs 214 crore, up 12% YoY.
More to come…