Stocks to buy: The earnings season is nearing to an end, with over 1,500 companies having already announced their December quarter results so far. In the financial services space, Bajaj Finance and Jio Financial Services (JFSL) have both reported their Q3 FY26 results.
According to market experts, Seema Srivastava, Senior Research Analyst at SMC Global Securities, Bajaj Finance and JFSL present contrasting investment propositions, reflecting different stages of the financial services lifecycle and catering to distinct investor profiles.
Bajaj Finance vs Jio Financial Services – Q3 results
Bajaj Finance Q3 results 2026
Net profit: The NBFC reported a 5.6% year-on-year decline in consolidated net profit to ₹4,066 crore. The company had recorded a net profit of ₹4,308 crore in the corresponding quarter last year.
Revenue from operations: Revenue from operations of the NBFC surged 18.2% YoY to ₹15,965 crore, as compared to ₹13,277 crore in the same period a year ago.
Net Interest Income: NII climbed to ₹11,318 crore in the third quarter, compared with ₹9,383 crore in the same period last year.
Asset Under Management: The company also posted healthy loan growth, with new loan disbursements increasing to 13.90 million in Q3 FY26 from 12.06 million in Q3 FY25, a year-on-year rise of 15%. This momentum lifted assets under management (AUM) to ₹4.84 lakh crore, up from ₹3.98 lakh crore a year ago, translating into a 22% YoY growth.
“Bajaj Finance continues to demonstrate its credentials as a proven compounder, with Q3 results reaffirming the strength of its franchise. The company delivered 22% AUM growth, steady customer additions, robust NII expansion, and stable asset quality, underscoring the resilience of its diversified lending model. The reported profit decline was largely optical, driven by accelerated ECL provisioning and one-time labour code charges, while underlying PAT grew 23%, highlighting strong core momentum,” Srivastava said.
Jio Financial Services Q3 results 2026
Jio Financial Services posted a mixed performance in the December quarter, as strong growth in core operating income was offset by weaker profitability.
Net profit: Net profit for the third quarter stood at ₹269 crore, marking a 9% year-on-year decline from ₹295 crore in the corresponding period last year.
Revenue from operations: Revenue from operations surged to ₹901 crore in Q3 FY26, more than doubling from ₹438 crore a year earlier, reflecting a robust 106% increase.
Net Interest Income: Interest income jumped 140% year-on-year to ₹504 crore, driven by the expansion of the lending portfolio.
Asset Under Management: The asset management business continued to gain momentum, with AMC assets under management reaching ₹14,972 crore across 10 mutual fund schemes, supported by a retail investor base of about one million.
“In contrast, JFSL represents a platform-scale optionality play, still in its investment phase but scaling rapidly across NBFC, AMC, payments, and insurance distribution. Q3 FY26 showcased sharp YoY growth in income, AUM, and transaction volumes, though profitability remains modest due to reinvestment and softer associate income. Leveraging Reliance’s ecosystem, data, and distribution reach, JFSL is building multiple financial verticals that could, over time, evolve into a diversified financial powerhouse,” she added.
Bajaj Finance vs Jio Financial Services – Which stock to buy post Q3 results FY26?
The market expert believes that Bajaj Finance appeals to conservative investors focused on steady compounding, while JFSL suits those willing to embrace volatility for potentially outsized ecosystem-led returns.
Meanwhile, Anshul Jain, Head of Research at Lakshmishree, said that between both the companies, Bajaj Finance clearly stands out on price action. The stock has crossed a major resistance near 975, decisively breaking the earlier lower-high lower-low structure that had capped upside attempts.
“This shift marks a transition back into a bullish trajectory on the daily chart. The breakout has come with improving participation, indicating genuine accumulation rather than short covering. Structure-wise, higher lows are now forming, and momentum indicators have turned supportive, reinforcing trend strength across short-term timeframes. As long as the stock sustains above 975, the risk–reward remains favorable for continuation. A clean hold above this level can drive a follow-through move toward the 1,020–1,025 zone, while a slip back below 975 would act as the near-term invalidation for the bullish setup,” Jain added.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
