Jio Financial Services Q1 results steady; strategic initiatives continue
Reliance Industries Ltd (RIL)’s demerged entity reported a 5.81% year-on-year drop in consolidated profit to Rs 312.63 crore for the June quarter, down from Rs 331.92 crore last year.
Treasury income declined as high-yielding fixed deposits matured, with proceeds reinvested in liquid instruments.
Sequentially, expenses at JFS decreased due to excluded business setup costs.Looking ahead, management priorities include expanding secured lending products such as LAP and LAS, alongside a 50-50 JV with BlackRock to launch wealth management and broking businesses.
JFSL’s shift from an NBFC to a Core Investment Company has received final RBI approval, reflecting a positive long-term outlook.
JFS is enhancing market presence through digital initiatives like multi-bank UPI solutions and streamlined transaction processes. Recent innovations include embedded finance products like EMI options on credit/debit cards and Brand EMI, enhancing consumer affordability and market competitiveness.
In the NBFC segment, JFS launched vendor financing, loans against mutual funds, and device financing solutions. It aims to expand secured lending offerings and customer engagement via direct-to-consumer digital strategies.
In leasing, JFS initiated an operating lease business for AirFiber devices in June, offering cost-effective leasing options to reduce asset ownership risks. With shareholder approval for related party transactions up to Rs 36,000 crore, JFS plans to scale operations and introduce leasing services for solar panels and IT equipment in the future.
In leasing, JFS initiated an operating lease business for AirFiber devices in June, offering cost-effective leasing options to reduce asset ownership risks. With shareholder approval for related party transactions up to Rs 36,000 crore, JFS plans to scale operations and introduce leasing services for solar panels and IT equipment in the future.
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