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Hot Pursuit News

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(16 Jul 2024, 10:47)

Jio Financial slips after Q1 PAT slides 6% YoY

Jio Financial Services shed 2.07% to Rs 347.90 after the NBFC reported a 5.81% decline in consolidated net profit to Rs 312.63 crore in Q1 FY25 from Rs 331.92 crore posted in Q1 FY24.

Total income rose marginally to Rs 417.82 crore in June 2024 quarter as compared with Rs 414.13 crore posted in same quarter last year.

The company’s interest income fell 19.88% year on year (YoY) to Rs 161.74 crore for the quarter ended 30 June 2024.

Profit before tax stood at Rs 400.39 crore in June 2024 quarter, down 6.3% from Rs 427.30 crore posted in corresponding quarter previous fiscal.

Total expenses increased 47.46% to Rs 79.35 crore while Employee benefit expenses surged 166.78% to Rs 31.16 crore in Q1 FY25 over Q1 FY24.

Jio Financial Services is a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI) and engaged in business of finance, trading in futures and options, trading / investments in shares and securities.


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