Jio Financial Q3 results: Profit at ₹269 crore as total income more than doubles

Jio Financial Services Ltd (JFSL) reported a consolidated profit of ₹269 crore for the quarter ended December 31, as its total income more than doubled year-on-year, supported by strong traction across lending, payments and asset management businesses.

Total income for the quarter rose to ₹901 crore, compared with ₹449 crore a year ago. Consolidated pre-provisioning operating profit increased 7% year-on-year to ₹354 crore, while net income from business (excluding dividend income) grew 4% to ₹386

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The company’s lending arm continued to scale up rapidly. NBFC assets under management climbed 4.5 times year-on-year and 29% sequentially to ₹19,049 crore. Gross disbursements during the quarter stood at ₹8,615 crore, nearly doubling from a year earlier. Net interest income from the lending business surged 166% year-on-year to ₹165 crore, while pre-provisioning operating profit jumped 130% to ₹99 crore.

At Jio Payments Bank, total income rose ten-fold to ₹61 crore, driven by a sharp increase in transaction throughput. Deposits stood at ₹507 crore as of December 31, up 94% year-on-year, while the customer base expanded to 3.2 million.

The asset management business, operated through the Jio-BlackRock joint venture, reported assets under management of ₹14,972 crore across 10 funds, with a retail investor base of one million. The company said a significant share of inflows came from beyond the top 30 cities, reflecting rising participation from first-time mutual fund investors.

The payments ecosystem also saw strong momentum, with transaction processing volume at Jio Payment Solutions rising 2.6 times year-on-year to ₹16,315 crore. Gross fee and commission income increased 4.6 times to ₹96 crore, while unit-level gross margins remained steady at around 10 basis points.

Shares of Jio Financial Services closed at ₹287.30 on the NSE, up 0.95%, ahead of the results announcement.