Jio Financial Services Q2 net income from business surges 5x, revenue jumps 42% to ₹981 crore

Jio Financial Services Ltd (JFSL) on Thursday (October 16) reported a net profit of ₹695 crore for the second quarter, up 0.9% year-on-year from ₹689 crore in Q2 FY2025. The company’s revenue jumped 41.5% to ₹981.4 crore from ₹693.5 crore a year ago, driven by strong growth across its business segments.

Net income from the business accounted for 52% of consolidated net total income (ex-dividend), up from 14% in Q2 FY25. The NBFC’s assets under management (AUM) rose sharply to ₹14,712 crore from ₹1,206 crore in the same period last year.

Meanwhile, the AMC AUM stood at ₹15,980 crore, with its maiden NFO for an actively managed flexi cap fund raising around ₹1,500 crore in investments. At the operating level, pre-provisioning operating profit (PPOP) increased to ₹579 crore from ₹552 crore in Q2 FY25.

In Q2, the share of net income from business operations stood at 52%, up from 14% in Q2 FY25. Operating income from all business lines, including Jio Credit, Jio Insurance Broking, Jio Payments Bank, and Jio Payment Solutions, is growing at a significant pace.

Jio Credit Ltd (JCL) reported an assets under management (AUM) of ₹14,712 crore, up 12x over Q2 FY25, making it the fastest NBFC to reach this AUM size with a secured loan book.

JioBlackRock Asset Management reported an AUM of ₹15,980 crore, with its maiden NFO for an actively managed flexi cap fund raising ₹1,550 crore in investments. The asset management business grew its client base to 150+ institutional and 635,000+ retail investors.

Jio Payments Bank Ltd (JPBL) saw its customer base reach 2.95 million and a deposit base of ₹421 crore, both exhibiting approximately 2x growth over Q2 FY25. The payments bank’s network of Business Correspondents (BCs) expanded to around 200,000 in Q2 FY26, up from just 2,307 in Q2 FY25.

Jio Payment Solutions Ltd (JPSL) reported a transaction processing volume (TPV) of ₹13,566 crore, up 167% year-on-year. It is important to note that this scale has been achieved in just about 2 years since listing.

JFSL has also seen significant growth in its user base, currently recording unique digital footfalls of approximately 18 million+ across all digital properties. The large and growing customer funnel was created in just 16 months since the JioFinance app went live, presenting substantial cross-sell opportunities.

Even as JFSL invests for growth across diverse businesses—with six in the incubation stage and five in scale-up mode—it remains profitable, maintaining a sharp focus on healthy unit-level economics.

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 by ₹0.55, or 0.18%, on the BSE.

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