Jio Financial Services shares rise in early trade, profit of Rs 668 crore in Q2
Till the time of writing the news, Jio Financial Services shares are trading up 1 percent at Rs 227.05. Jio Financial Services, the NBFC arm of Reliance Industries, released its maiden financial results yesterday and said the company made a profit of Rs 668 crore in the September quarter. This is JFSL's first financial results after listing. Read the full news.
On Tuesday, October 17, Jio Financial Services saw a rise in its shares. Till the time of writing the news, the company's shares are trading at Rs 227.05, up by 1 percent i.e. Rs 2.25 in early trade.
Reliance Industries' NBFC company Jio Financial Services released its first financial results yesterday and said that the company has made a profit of Rs 668 crore in the September quarter.
This is JFSL's first financial result after its stock exchange listing. Let us tell you that JFSL was listed in the market on 21st August. The company has earned this profit from operations. After demerger with Reliance Industries, Jio Financial now plans to get involved in consumer finance, asset management, and insurance.
The company's total revenue in the September quarter stood at Rs 608 crore, which is 47 percent more than the sequential quarter.
Interest income declined to Rs 186 crore in the second quarter from Rs 202 crore a quarter ago. The dividend income of JFSL stood at Rs 217 crore in the September quarter, which was zero in the June quarter.
Due to the reinstatement of employees in the new company, JFSL's total expenses increased by 33 per cent quarter-on-quarter to Rs 71 crore.
Jio Financial has appointed former ICICI Bank executive AR Ganesh as Chief Technology Officer (CTO) of JFSL.
