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Net Profit Declines 5.7% YoY To INR 313 Cr

, By Gargi Sarkar
Net Profit Declines 5.7% YoY To INR 313 Cr
FinTech

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SUMMARY

Jio Financial Services reported a net profit of INR 332 Cr in Q1 FY24 and INR 311 Cr in Q4 FY24

Operating revenue rose marginally to INR 418 Cr during the quarter under review from INR 414 Cr in Q1 of FY24

The company said that it launched loans against mutual funds and auto and two-wheeler digital insurance in July 2024

Fintech company Jio Financial Services (JFS) posted a consolidated net profit of INR 313 Cr in the April-June quarter (Q1) of the financial year 2024-25 (FY25), a decline of 5.7% from INR 332 Cr in the year-ago quarter.

On a quarter-on-quarter basis, net profit rose marginally from INR 311 Cr.

Operating revenue rose marginally to INR 418 Cr during the quarter under review from INR 414 Cr in Q1 of FY24. However, it was almost flat sequentially. 

In an investor presentation, the company said that it launched loans against mutual funds and auto and two-wheeler digital insurance in July 2024. 





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Net Profit Declines 5.7% YoY To INR 313 Cr

, By Gargi Sarkar
Net Profit Declines 5.7% YoY To INR 313 Cr
FinTech


SUMMARY

Jio Financial Services reported a net profit of INR 332 Cr in Q1 FY24 and INR 311 Cr in Q4 FY24

Operating revenue rose marginally to INR 418 Cr during the quarter under review from INR 414 Cr in Q1 of FY24

The company said that it launched loans against mutual funds and auto and two-wheeler digital insurance in July 2024

Fintech company Jio Financial Services (JFS) posted a consolidated net profit of INR 313 Cr in the April-June quarter (Q1) of the financial year 2024-25 (FY25), a decline of 5.7% from INR 332 Cr in the year-ago quarter.

On a quarter-on-quarter basis, net profit rose marginally from INR 311 Cr.

Operating revenue rose marginally to INR 418 Cr during the quarter under review from INR 414 Cr in Q1 of FY24. However, it was almost flat sequentially. 

In an investor presentation, the company said that it launched loans against mutual funds and auto and two-wheeler digital insurance in July 2024. 





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News
Amazon India To Launch 2 Cheaper Variants Of Prime Membership
Next News
Unacademy COO Jagnoor Singh Quits, Gaurav Munjal & Sumit Jain To Take Charge
Gargi Sarkar
Gargi Sarkar

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