Jio Financial Services Q1 profit rises 4% to Rs 325 cr

New Delhi: Jio Financial Services Ltd (JFSL) on Thursday reported a 4 per cent increase in consolidated net profit to Rs 325 crore in the first quarter ended June 2025.

The company had earned a net profit of Rs 313 crore in the same quarter a year ago.

The company's total income rose to Rs 619 crore as against Rs 418 crore in the June quarter of the previous year, JFSL said in a regulatory filing.

During the period, interest income doubled to Rs 363 crore as against Rs 162 crore in the same quarter a year ago.

Total expenses increased significantly to Rs 261 crore from Rs 79 crore in the same quarter of last year.

JFSL, in the quarter, acquired 7.9 crore equity shares of Jio Payments Bank Limited (JPBL) from State Bank of India, representing 14.96 per cent of equity share capital of JPBL for Rs 104.54 crore.

Consequently, JPBL has become a wholly-owned subsidiary effective from June 18 2025. Exceptional item represents the excess of fair value gain on remeasurement of investment in JPBL of Rs 439.16 crore over the goodwill of Rs 410.59 crore relating to this acquisition, it said.

Jio Financial Services, carved out from Reliance Industries Ltd, is engaged in the business of investing and financing, insurance broking, payment bank and payment aggregator and payment gateway services.

Its subsidiary Jio Finance Ltd launched a home loan product and loan against mutual funds last year.

During the quarter, both JFSL and BlackRock Advisors Singapore Pte Ltd have contributed Rs 63 crore each as equity capital in Jio BlackRock Asset Management Private Limited.

SEBI on June 10, 2025, has granted a certificate of registration to Jio BlackRock Investment Advisers Private Limited (JBIAPL) to act as an Investment Adviser.

During the quarter, JFSL and BlackRock Advisors Singapore Pte Ltd have contributed Rs 66.50 crore each as equity share capital in JBIAPL, it added.