FinTech
Net Profit Declines 5.7% YoY To INR 313 Cr
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Jio Financial Services reported a net profit of INR 332 Cr in Q1 FY24 and INR 311 Cr in Q4 FY24
Operating revenue rose marginally to INR 418 Cr during the quarter under review from INR 414 Cr in Q1 of FY24
The company said that it launched loans against mutual funds and auto and two-wheeler digital insurance in July 2024
Fintech company Jio Financial Services (JFS) posted a consolidated net profit of INR 313 Cr in the April-June quarter (Q1) of the financial year 2024-25 (FY25), a decline of 5.7% from INR 332 Cr in the year-ago quarter.
On a quarter-on-quarter basis, net profit rose marginally from INR 311 Cr.
Operating revenue rose marginally to INR 418 Cr during the quarter under review from INR 414 Cr in Q1 of FY24. However, it was almost flat sequentially.
In an investor presentation, the company said that it launched loans against mutual funds and auto and two-wheeler digital insurance in July 2024.
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