Jio Financial Services Q2 business income rises five-fold, revenue jumps 41% to ₹981 crore

Jio Financial Services Ltd (JFSL) on Thursday (October 16) reported an over 41% jump in revenue to ₹981.4 crore in Q2FY26 from ₹693.5 crore a year ago, led by broad-based growth across lending, asset management, and payments businesses.

The non-banking financial company (NBFC) from the diversified Reliance Group of Industries posted a net profit of ₹695 crore for the second quarter of FY26, up nearly a percent year-on-year from ₹689 crore in the second quarter of the financial year 2025-26.

Jio Financial’s total income grew 44% YoY to ₹1,002 crore, with net income from business operations jumping nearly fivefold to ₹317 crore — overtaking treasury income for the first time.

“This marks a key inflection point, as core business income now drives profitability,” JFSL said in a statement. The share of business income in total net income rose sharply to 52% from 14% a year ago.

Growth across verticals

Jio Credit Ltd (JCL) continued its rapid scale-up with assets under management (AUM) soaring 12 times YoY to ₹14,712 crore, making it one of the fastest NBFCs to achieve this milestone with a secured loan book.

JioBlackRock Asset Management reported AUM of ₹15,980 crore, aided by its maiden flexi-cap NFO that mobilised ₹1,550 crore. The AMC now serves more than 150 institutional and 6.35 lakh retail investors.

Jio Payments Bank Ltd (JPBL) saw its customer base double to 2.95 million and deposits climb to ₹421 crore. Its Business Correspondent network expanded aggressively to around 2 lakh agents in Q2FY26 from just 2,307 a year earlier.

Jio Payment Solutions Ltd (JPSL) reported a 167% YoY rise in transaction processing volumes to ₹13,566 crore, underscoring robust traction in merchant payments.

At the operating level, pre-provisioning operating profit (PPOP) stood at ₹579 crore versus ₹552 crore in the year-ago quarter. The NBFC’s overall AUM surged to ₹14,712 crore from ₹1,206 crore a year earlier.

Scaling fast, investing broad

JFSL noted that it has achieved this scale in just two years since listing. Its digital ecosystem now attracts more than 18 million unique users, built within 16 months of the JioFinance app’s launch, creating a large funnel for cross-selling financial products.

Also Read: Jio Financial Services Q1 Results: Revenue up 47% YoY, profit rises to ₹325 crore

Hitesh Sethia, Managing Director and CEO, JFSL, said, "The significant growth in business income is a direct result of the initiatives taken over the last few quarters towards scaling up profitably, by pursuing a risk-calibrated growth strategy. Our expanding user base is a validation of the enthusiasm with which our offerings have been met in the market.

As we design financial services of the future for all Indians, we are actively leveraging next-gen AI and analytics to position JioFinance as a trusted, intelligent, and simplified digital platform that delivers personalised and fit-for-purpose products to each individual customer. The results of these efforts would become more pronounced over the coming quarters."

Shares of Jio Financial Services Ltd ended at ₹312.10, down ₹0.55, or 0.18%, on the BSE. So far this year, the stock has gained 2.5%, while it has surged over 45% since its listing in mid-2023.

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