Jio Financial Services Limited, formerly known as Reliance Strategic Investments Limited, has released its unaudited consolidated financial results for the quarter and half-year ended September 30, 2024.
Key Financial Highlights (Q2 FY25):
- Revenue from operations:
- The company posted total revenue of ₹693.50 crore in Q2 FY25, showing an increase from ₹608.04 crore in the same period last year (Q2 FY24).
- Interest income grew to ₹240.98 crore, while net gain on fair value changes amounted to ₹206.95 crore.
- Profit before tax:
- The profit before tax for the quarter stood at ₹773.49 crore, up from ₹536.61 crore in Q2 FY24.
- Net profit (YoY):
- The company’s net profit rose by 3.12% YoY, reaching ₹689.07 crore in Q2 FY25, compared to ₹668.18 crore in Q2 FY24.
- Expenses:
- Total expenses increased to ₹146.07 crore, compared to ₹79.35 crore in the corresponding quarter last year. The major contributors included employee benefits expense of ₹67.71 crore and other expenses of ₹68.99 crore.
- Total comprehensive loss:
- Despite the solid profit growth, the company faced a total comprehensive loss of ₹8,837.22 crore, driven mainly by a significant loss in equity instruments through Other Comprehensive Income (OCI), amounting to ₹4,280.33 crore.
- Half-year performance:
- For the half-year ended September 30, 2024, Jio Financial Services posted total revenue of ₹1,111.47 crore and a net profit of ₹1,001.70 crore.
Financial Comparison Tables:
Year-on-Year (YoY) Financials:
| Particulars | Q2 FY25 | Q2 FY24 | YoY Growth (%) |
|---|---|---|---|
| Revenue from operations | ₹693.50 | ₹608.04 | 14.06% |
| Net Profit | ₹689.07 | ₹668.18 | 3.12% |
| Total expenses | ₹146.07 | ₹79.35 | 84.09% |
| Profit before tax | ₹773.49 | ₹536.61 | 44.18% |
Quarter-on-Quarter (QoQ) Financials:
| Particulars | Q2 FY25 | Q1 FY25 | QoQ Growth (%) |
|---|---|---|---|
| Revenue from operations | ₹693.50 | ₹417.82 | 66.01% |
| Net Profit | ₹689.07 | ₹312.63 | 120.51% |
| Total expenses | ₹146.07 | ₹79.35 | 84.09% |
| Profit before tax | ₹773.49 | ₹400.39 | 93.15% |
Jio Financial Services has demonstrated steady revenue and profit growth in its core operations during Q2 FY25. While the company’s operational performance remains strong, the overall financials were impacted by a large loss in equity instruments, leading to a significant total comprehensive loss.
