Reliance Jio’s financial arm Jio Financial Services posted a 6% decline in its Q1FY25 net profit at Rs 312.6 crore against Rs 331.92 crore posted in the same period last year. Jio Financial Services’ share price ended higher by 1.4% at Rs 355.40 on the NSE ahead of its Q1 results.
Jio Financial Services’ Q1 revenue from operations came in marginally higher by 0.8% at Rs 417.82 against Rs 414 crore in the same period last year. Alongside results, the company announced that it started leasing Jio Fiber in the month of June.
On a sequential basis, the company’s net profit came in 0.6% higher at Rs 312.6 crore against Rs 310.6 crore in the previous quarter. Revenue from operations declined 0.1% to Rs 417.8 crore against Rs 418.1 crore in the previous quarter.
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