Jio Financial Services (JFS), the financial services arm of the Reliance Group, on Friday reported its consolidated Q3FY25 net profit at ₹295 crore, flat on a year-on-year (y-o-y) basis. The non-bank lender’s Q2FY25 net profit was at ₹689 crore, largely led by ₹241 crore of dividend paid by a subsidiary company.

During Q3, JFS’s interest income stood at ₹210 crore, while net gain on fair value changes stood at ₹191 crore. Total income of the company stood at ₹449 crore, while total expenses stood at ₹119 crore.

The NBFC’s overall assets under management stood at ₹4,199 crore in Q3 as against ₹1,206 crore in Q2. Currently, the NBFC offers home loans, loan against property and mutual funds, corporate loans, and its subsidiaries offer payments solutions, insurance and investment services.Its payment bank subsidiary’s current account and savings account customers rose 25 per cent on a sequential basis to 1.89 million, while average monthly user base stood at 7.4 million across JFS digital properties.Further, it has also filed with the Reserve Bank of India (RBI) a third party application provider (TPAP) license for JioFinance app.

Published on January 17, 2025