Jio Financial Services net profit down 3%; loan book grows 156%

For the quarter ended March 2026, the net profit grew by 1% on a sequential basis and dropped by 14% on a year-on-year basis.

However, it is important to note that the company is a growing business, which commenced operations just two years ago. So, the profit numbers would look skewed as the company reported a 100x jump in its financing costs [to fuel loan growth], and a 3x jump in its other expenses.

In fact, the company’s topline also surged by 70% during FY26 to ₹ 3,542.61 crore, compared with ₹2,078.92 crore in FY25.

The net income from business operations for the company during March 2026 quarter stood at ₹468 crore, a jump of 188% on year-on-year basis and 21% sequentially.

The lending business — which is the core of any financial services conglomerate — has also seen a healthy growth of 35% and 156% in its loan-book on a sequential and year-on-year basis, respectively.

Also Read: Jio Financial arm invests ₹64 crore in Reliance International Leasing IFSC via rights issue

The group’s assets under management now stand at ₹ 25,710.80 crore. It is pertinent to note that Jio Financial’s entire loan book is secured. The lending arm of the conglomerate — Jio Credit Limited — offers Home Loan, Loan against Property, Loan against ETFs, Loan against Mutual Funds, and Loan against Shares.

Hitesh Sethia, Managing Director and CEO, Jio Financial Services Limited, said: “Our robust operational velocity bears testament to the resonance our offerings are finding across the nation, with our reach now spanning over 19,000+ pincodes. As we enter FY27, we look forward to building further on this formidable foundation.”

The company also announced a dividend of ₹0.60 per share — an increase of 20% from ₹0.50 per share last year.

Meanwhile, the company also relieved its Group CFO Abhishek Pathak. Pathak would be joining the office of the Chairman of Reliance Industries Ltd — Mukesh Ambani — in a strategic role.

Also Read: Jio Financial Services share price has 35% upside potential, Motilal Oswal says with ‘buy’ rating

Further, Annapoorna Venkataramanan has been appointed as the Chief Financial Officer of Jio Financial Services. Her most recent role was Chief Treasury, Risk, Insurance and Capex Investments at ArcelorMittal Nippon Steel India (AMNS).

Prior to AMNS, she served as Managing Director and Sales Head, South Asia Financial Markets at Standard Chartered Bank (SCB), where she led teams across risk, liquidity management, international corridor business and digital product journeys.

The company’s shares closed at ₹243.95 per scrip, up 1.1%.

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