Jio Financial Services profit surges 2.6X to ₹830 Crore
Fintech company Jio Financial Services reported its first-quarter net profit increased 2.6 times to ₹830 Crore. Operating revenue crossed the ₹2,000 Crore mark.
Jio Financial Services (JFS), a fintech entity, announced a significant surge in its first-quarter (Q1) financial performance for FY27. The company's net profit leaped 2.6 times to ₹830.3 Crore, a substantial increase from ₹324.7 Crore reported in the corresponding period last year. Sequentially, the profit saw a growth of 205 percent.
Operating revenue exceeded ₹2,000 Crore during the June quarter, marking a year-on-year increase of 227 percent and a quarter-on-quarter growth of 97 percent. Interest income contributed ₹961.6 Crore, up 165 percent year-on-year, while fee and commission income surged more than fivefold to ₹324.5 Crore.
Total expenses for the period rose 291 percent year-on-year to ₹1,015.8 Crore. This uptick in costs was driven by increased finance costs, staff expenses, and other operating expenditures, as JFS continues to scale its digital platform ambitions.
The company highlighted strong momentum across its operating segments, including lending, payments, insurance, and asset management. Jio Credit, the non-banking financial arm, reported gross disbursements of ₹11,252 Crore, a 173 percent year-on-year rise. Its payment solutions vertical saw its total payment value (TPV) grow 2.5 times to ₹19,208 Crore.