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Jio Financial Services, a leading non-banking financial company (NBFC) owned by billionaire Mukesh Ambani, released its financial results for the third quarter of FY25 (October-December 2024) on January 17, 2025. Here’s a detailed look at the performance and key developments of the company in Q3 FY25:
Financial Performance
Net Profit:
The consolidated net profit stood at ₹295 crore, reflecting a marginal year-on-year (YoY) increase of 0.3% compared to ₹294 crore in Q3 FY24.
Despite the flat profit growth, the company maintained a steady financial position.
Revenue Growth:
Revenue grew by 6% YoY, underlining the company's ability to generate consistent income despite market challenges.
Assets Under Management (AUM):
AUM surged to ₹4,199 crore, a significant jump from ₹1,206 crore in the previous quarter (Q2 FY25). This growth highlights Jio Financial’s expanding reach and robust portfolio management.
Market Performance:
Jio Financial’s share price showed resilience, settling flat-to-positive ahead of the Q3 results. Over the past year, the stock has gained 15%, despite a 17% dip in the past month.
The company’s market capitalization stands strong at over ₹1.76 lakh crore.
Strategic Developments
Wealth Management Initiatives
Jio Financial has partnered with BlackRock to establish a joint venture for wealth management services. The new entity, Jio BlackRock Investment Advisers Private Ltd., was incorporated in September 2024.
Key highlights include:
Recruitment of senior leadership and operational teams for the wealth management division is underway.
A focused roadmap for delivering cutting-edge wealth management solutions to Indian customers.
Asset Management Advancements
Jio Financial’s asset management arm is progressing towards final approval for operations.
Key updates:
Leadership and core business teams are in advanced stages of onboarding.
A unified technology platform is being developed to ensure operational excellence and seamless customer experiences.
The company’s product roadmap and go-to-market strategy are on track, signaling strong future growth potential.
Service Offerings
Jio Financial Services continues to diversify its offerings to meet customer needs. Current services include:
- Loans for individuals and businesses.
-Savings accounts with competitive interest rates.
- UPI bill payments, enabling fast and secure transactions.
- Digital insurance services, catering to the evolving needs of the Indian market.
Disclaimer - This article does not provide any recommendation, investors are requested to consult there financial advisor before making any investment decisions.