Jio Financial Services (JFSL), the financial arm of Reliance Industries, announced its financial results for the June-ended quarter (Q1 FY27) after market hours on Thursday, reporting a consolidated net profit of ₹830 crore, a sharp 156% jump from ₹325 crore in the corresponding quarter last year.
On a sequential basis, net profit surged 205% from ₹272 crore reported in the March quarter (Q4 FY26).
Revenue from operations also witnessed robust growth, rising to ₹2,004 crore from ₹612 crore in the preceding quarter, registering a 223% sequential increase.
JFSL, which operates across investing and financing, insurance broking, payments banking, payment aggregator and gateway services, and asset management, continued to see strong business momentum during the quarter.
Despite a sharp rise in operating expenses, the profit growth was supported by robust growth in its core income streams and higher dividend income.
Total income surged 141% YoY to ₹1,496 crore, driven by a 165% jump in interest income to ₹962 crore and a more than fivefold increase in fees and commission income to ₹325 crore.
The company also reported dividend income of ₹509 crore during the quarter. While total expenses climbed 291% YoY to ₹991 crore due to higher finance costs, staff expenses and other operating expenses, the strong growth in income helped pre-provision operating profit (PPOP) rise 38% YoY to ₹505 crore.
