India’s richest man Mukesh Ambani-led Jio Financial Services on Monday released its June quarter results. As it is the first quarter of the financial year 2024-25, the results of this quarter will be very important for investors to know how the business trend will be for this year.
In this way, the profit of Jio Financial Services Company in the June quarter decreased by 6 percent on an annual basis (YoY) and increased by 0.8 percent on a quarterly basis and received Rs.312.63 crore in the results of this quarter. Rs.310.6 crore in the March quarter, an increase of 0.6 percent.
JFS’s total expenses rose from Rs 53.81 crore in the June quarter last year to Rs 79.35 crore in the June quarter, but declined from Rs 103.12 crore in the March 2024 quarter.
The total revenue of Jio Financial Services in this June quarter is Rs 418 crore. This is 0.9% higher than the Rs.414 crore measurement reported in the same quarter last year.
And while it has received 134 crore rupees through operations during this period, its amount has been 141 crore rupees in the last year. 215 crore in the March quarter.
Jio Financial Services’ total interest income stood at Rs 162 crore in the June quarter, compared to Rs 281 crore in the March quarter. It is noteworthy that it was Rs 202 crore in the June quarter of the last financial year.
At the end of this quarter, Jio Financial Services has made an important announcement about the launch of its new business. It has also announced that it will start renting AirFiber devices from June 2024.
It also said that Jio Financial Services has received approval from the Reserve Bank of India to convert from an NBFC to a core investment company. With this, Jio Financial Services will now act as a core investment company.
