Jio Financial Services Limited (JFSL) delivered a strong financial performance in Q3 FY26, with consolidated total income surging to Rs 901 crore, representing a 101 per cent increase year-over-year. The company's pre-provisioning operating profit grew by 7 per cent to Rs 354 crore, while profit after tax stood at Rs 269 crore. A significant highlight of the quarter was the shift toward core operations, with the share of net income from business rising to 55 per cent of the total net income, up from just 20 per cent in the same period last year. This transition indicates that the company's operating entities are rapidly gaining traction and reducing reliance on treasury operations.
The lending and banking verticals showed remarkable expansion, led by Jio Credit Limited. Gross disbursements nearly doubled year-over-year to Rs 8,615 crore, while Net Interest Income soared by 166 per cent to Rs 165 crore, driven by a growing pool of interest-earning assets and lower funding costs. Simultaneously, Jio Payments Bank saw its total income grow tenfold to Rs 61 crore, supported by a customer base that has expanded to 3.20 million. Deposits reached Rs 507 crore, a 94 per cent increase, while the business correspondent network saw massive growth, reaching over 2.86 lakh active BCs.
In the investment and payment sectors, the JioBlackRock joint venture and Jio Payment Solutions reported steady progress. The AMC’s Assets Under Management (AUM) reached Rs 14,972 crore across 10 funds, engaging a retail investor base of one million. On the payments front, transaction processing volume (TPV) jumped 2.6x to Rs 16,315 crore, while gross fee and commission income rose by 4.6x to Rs 96 crore. The insurance broking arm also contributed positively, facilitating premiums worth Rs 212 crore, with a significant 5x sequential growth in its digital Point of Sales Person (PoSP) channel.
Central to JFSL’s growth is its digital-first strategy, anchored by the JioFinance app. The platform recorded 20 million unique users across all digital properties during the quarter, with a monthly active user base averaging 9.2 million. This unified storefront has successfully integrated a diverse Service suite, ranging from growth-stage ventures like the NBFC and Payments Bank to early-stage incubations in wealth management and securities broking. By maintaining a healthy capital cushion through treasury returns, JFSL continues to reinvest in its ecosystem to ensure long-term scale and market relevance.
About the Company
Jio Financial Services Limited (JFSL) is a Reserve Bank of India-registered Core Investment Company that operates a comprehensive, digital-first financial services ecosystem. Through its various subsidiaries, including Jio Credit, Jio Insurance Broking and Jio Payments Bank, the institution provides a full-stack platform for borrowing, transacting and saving. Central to its consumer strategy is the JioFinance app, which integrates diverse solutions such as UPI payments, digital insurance and financial management tools to enhance the financial well-being of Indian citizens.
Beyond its core operations, JFSL has established significant global partnerships to expand its service offerings. It's a 50:50 joint venture with BlackRock that focuses on asset management, with plans to enter the wealth management and broking sectors. Additionally, the company has partnered with the Allianz Group to launch Allianz Jio Reinsurance Limited and is exploring further opportunities in the general and life insurance markets. These strategic alliances, combined with a "digital-first" model, position JFSL as a major emerging player in India's evolving financial landscape.
Currently, JFS has a market cap of Rs 1.81 lakh crore. According to the consolidated annual results, the company reported net sales of Rs 2,043 crore, operating profit of Rs 1,548 crore and net profit of Rs 1,613 crore in FY25. The stock is up by 46 per cent from its 52-week low of Rs 198.60 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
Reliance Group-Backed Jio Financial Services Q3FY26 Consolidated Total Income at Rs 901 Crore