Jio Financial to announce Q1 results today
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Shares of Jio Financial Services will be in focus on Thursday as the company will announce its Q1 earnings today along with three dozen other companies. The company will also make a presentation to analysts on financial results around 7.30 pm today following the meeting of its Board.The other important results that the Street will be keeping its eyes on will be Axis Bank Indian Hotels Company (IHCL), Polycab India Tata Communications and SW Solar.Jio Financial Services had reported a marginal 2% growth in its consolidated net profit at Rs 316 crore in the fourth quarter of FY25, compared with Rs 311 crore in the same quarter of the last year. Revenue from operations during the reporting period rose 18% year-on-year (YoY) to Rs 493 crore. The same stood at Rs 418 crore in the previous year period.On a sequential basis, revenue from operations rose 13%, while the profit after tax jumped 7% quarter-on-quarter.Interest income during the fourth quarter fell marginally to Rs 276 crore in the January-March 2024 period, while the income from fee and commissions improved to Rs 39 crore.Jio Financial Services has been in news because of its mutual fund arm Jio BlackRock , a joint venture between billionaire Mukesh Ambani's Jio Financial Services and BlackRock.On Wednesday, Jio BlackRock Mutual Fund received approval from the markets regulator, Sebi, for five index funds - JioBlackRock Nifty Midcap 150 Index Fund, JioBlackRock Nifty Next 50 Index Fund, JioBlackRock Nifty Smallcap 250 Index Fund, JioBlackRock Nifty 8-13 yr G-Sec Index Fund, and JioBlackRock Nifty 50 Index Fund. Out of these five funds, four are equity-oriented index funds, whereas one is a debt-oriented index fund.Jio Financial shares have been market laggards underperforming the headline Nifty index. The share price of Jio Fin has slipped over 7% in the past 12 months, though the counter has managed to remain positive on the year-to-date basis, delivering returns of nearly 5%. In both the time frames, Nifty returns stand at 2.4% and 6.2%, respectively.
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