Jio Financial Services Reports 14% Decline in Q4 Net Profit Amid Rising Expenses
Jio Financial Q4 net profit falls 14% as expenses spike to Rs 692 crore
The Economic Times
Image: The Economic Times
Jio Financial Services, part of the Reliance Group, experienced a 14% drop in consolidated net profit for Q4 FY26, totaling ₹272 crore. This decline was attributed to soaring expenses, which reached ₹692 crore. However, the company saw significant growth in its lending and payments segments, with Jio Credit's net profit tripling to ₹70 crore.
- 01Q4 FY26 consolidated net profit fell to ₹272 crore, down 14% year-on-year.
- 02Expenses surged to ₹692 crore, significantly higher than ₹145 crore in Q4 FY25.
- 03Total income increased to ₹1,020 crore, up from ₹518 crore in the previous year.
- 04Jio Credit's standalone net profit tripled to ₹70 crore, with total assets under management growing 156%.
- 05Jio Payments Bank reported an 11-fold increase in total income to ₹87 crore.
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Jio Financial Services, the financial arm of Reliance Industries, reported a 14% decline in consolidated net profit for the March 2026 quarter, amounting to ₹272 crore, compared to ₹316 crore in the same quarter last year. This drop was primarily driven by a significant spike in expenses, which soared to ₹692 crore from ₹145 crore in the previous year. Despite the profit decline, total income for the quarter rose to ₹1,020 crore, up from ₹518 crore in Q4 FY25. In a positive development, Jio Credit saw its standalone net profit increase threefold to ₹70 crore from ₹18 crore, while net interest income grew to ₹202 crore from ₹81 crore. The total assets under management for Jio Credit surged 156% to ₹25,711 crore compared to ₹10,053 crore a year earlier. Additionally, Jio Payments Bank reported a remarkable 11-fold increase in total income, reaching ₹87 crore, with customer deposits growing 84% to ₹544 crore.
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The rising expenses may affect Jio Financial Services' profitability and could influence future investment and loan offerings. Customers of Jio Credit and Jio Payments Bank may benefit from the growth in services despite the overall profit decline.
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