Jio Financial Services profit up 4% at ₹325 crore as expenses rise

Jio Financial Services on Thursday reported a marginal rise of 4 per cent in its net profit year-on-year (Y-o-Y) to ₹325 crore in the first quarter of the financial year 2026 (Q1FY26) from ₹313 crore, mainly due to a rise in expenses. 

On a sequential basis, profit after tax increased 2.7 per cent. The company’s revenue from operations increased 47 per cent to ₹612 crore, as compared to ₹418 crore in the year ago period. However, total expenses increased by 228 per cent to ₹260.51 crore. Finance costs were ₹98.8 crore during the reporting period, which was negligible in the year ago period.

 

 

Hitesh Sethia, managing director and CEO, Jio Financial Services, said, “As we scale up, by nurturing businesses at various stages of maturity, our results reflect the measured and evolving nature of our growth curve. The significant capital received during the demerger uniquely positions us to support early stage businesses through returns on market investments, and deploy capital more assertively in businesses that exhibit strong unit economics and profitability.” Jio Credit Limited, the flagship arm of JFS, reported assets under management of ₹11,665 crore, up from ₹217 crore in Q1FY25. 

 

“Jio Credit limited continued to grow its AUM during the quarter, in the backdrop of the current industry environment. The measured growth in AUM is a function of a credit-conscious approach to building a high-quality and risk-calibrated loan book,” Jio Financial Services said. During Q1FY26, the company acquired State Bank of India’s 14.96 per cent stake in Jio Payments Bank (JPBL) for ₹105 crore. With this, JPBL has become a wholly-owned subsidiary of Jio Financial Services. As on June 30, 2025, the payments bank had 2.58 million customers and a deposit base of ₹358 crore. 

The payments bank is likely to get into the toll collection business. It was empanelled by the National Highway Authority of India (NHAI) and Indian Highway Management Company (IHMCL) as an acquirer bank for toll processing, and was awarded three plazas for toll collection.