Jio Financial Services (JIOFIN) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 and nine months ended December 31, 2024, featured strong operational execution, digital expansion, and significant growth in NBFC assets under management to ₹4,199 crore from ₹1,206 crore in the previous quarter.

• Consolidated profit after tax for Q3 FY25 was ₹295 crore, with consolidated revenue from operations at ₹438.35 crore; nine-month net profit was ₹1,296.48 crore.

• Payment bank CASA customers grew 25% quarter-on-quarter to 1.89 million, and digital user base reached 7.4 million monthly active users.

• Strategic partnerships and regulatory progress included BlackRock JVs, payment aggregator license, and CIC-ND-SI status effective July 9, 2024.

• Expanded digital offerings, including insurance broking, embedded payment solutions, and new features on the JioFinance app.

Financial highlights

• Q3 FY25 consolidated total income was ₹449 crore, up from ₹414 crore in Q3 FY24 but down from ₹694 crore in Q2 FY25 due to one-time dividend income.

• Standalone profit after tax for Q3 FY25 was ₹75 crore, versus ₹71 crore in Q3 FY24 and ₹305 crore in Q2 FY25.

• 9M FY25 consolidated PAT reached ₹1,296 crore, slightly above ₹1,294 crore for 9M FY24.

• Pre-provisioning operating profit for Q3 FY25 was ₹330 crore, down from ₹552 crore in Q2 FY25.

• Total comprehensive loss for the quarter was ₹(18,181.80) crore, mainly due to significant negative other comprehensive income.

Outlook and guidance

• Continued focus on operational execution, digital product expansion, and leveraging group ecosystem for growth.

• Ongoing recruitment and platform development for asset and wealth management JVs with BlackRock, with regulatory filings and leadership hiring in progress.

• Emphasis on maintaining best-in-class cost-to-income ratios and sustainable value creation.

• In-principle SEBI approval received for mutual fund co-sponsorship with BlackRock; final registration applied.