Latest news with #JioFinancialServicesLimited
Business Upturn
6 days ago
- Business
- Business Upturn
Jio Financial Services accelerates into a full-stack digital finance powerhouse: 50x NBFC AUM growth, Rs 17,800 crore AMC debut, and 50,000+ financial touchpoints
Jio Financial Services Limited (JFSL) kicked off FY26 on a strong note, delivering robust growth and expanding its footprint across India's financial services landscape. For Q1 FY26, the company reported total income of ₹619 crore, up 48% YoY, with net profit at ₹325 crore, rising 4% YoY. Notably, net income from business (core operating earnings) grew nearly 4x YoY to ₹219 crore, contributing about 40% of total net income. Key Highlights: NBFC (Jio Credit Limited) AUM soared 50x YoY , reaching ₹11,665 crore from just ₹217 crore in Q1 FY25. Jio BlackRock AMC debuted with an NFO that attracted over ₹17,800 crore, placing it among India's top 15 fund houses by debt AUM. The JioFinance app recorded 8.1 million average monthly active users , serving as a unified digital storefront for loans, investments, payments, and insurance. Jio Payments Bank expanded its business correspondent network 2.5x QoQ to more than 50,000 touchpoints , enabling deeper financial access nationwide. Beauty distribution, wealth management, and securities broking businesses under the Jio BlackRock JV also secured regulatory approvals and began building teams. JFSL acquired SBI's 14.96% stake in Jio Payments Bank during the quarter, making it a wholly-owned subsidiary. The company highlighted its technology-first approach, leveraging AI and data analytics to create a single customer view and personalize offerings at scale through the JioFinance app. Hitesh Sethia, MD & CEO, said: 'Our results reflect the measured and evolving nature of our growth curve, balancing investments in early-stage businesses with profitability in mature ones. With our tech-driven platform and strategic foresight, we aim to democratize financial access for every Indian household.' JFSL's Q1 marks a significant step in building a future-ready, cloud-first delivery model, poised to transform financial inclusion at scale. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
The Hindu
07-07-2025
- Business
- The Hindu
JioBlackRock Mutual Fund raises over ₹17,800 crore via maiden NFO
JioBlackRock Asset Management Pvt Ltd, a 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock, on Monday announced closure of its maiden New Fund Offer (NFO), recording a total investment of ₹17,800 crore ($ 2.1 billion). The fund was mobilised from three cash/debt mutual fund schemes — JioBlackRock Overnight Fund, JioBlackRock Liquid Fund and JioBlackRock Money Market Fund. The three-day NFO, which was launched on June 30, 2025, attracted investments from over 90 institutional investors, reflecting confidence in JioBlackRock Asset Management's value proposition that combines data-driven investing and a digital-first approach, the fund house said in a statement. The cash/debt mutual fund schemes also recorded an overwhelming response from retail investors, with over 67,000 individuals investing in these funds during the offer period. The NFO, which closed on July 2, 2025 was one of the largest in India's cash/debt fund segment, placing JioBlackRock Asset Management among the top 15 asset management companies by debt assets under management in the country, out of 47 fund houses, it said. These first funds offered by JioBlackRock Asset Management provide a broad range of investors choice to manage different elements of cash and short-term allocations, and put cash to work for meeting differing liquidity, risk and return objectives, it said. Short duration debt and money market mutual funds are a solution for investors looking to get yield by holding lower-volatility and short-term funds, without locking into a long-term commitment and providing clients with the flexibility to meet their liquidity needs. They serve as tools for investment portfolio builders, corporate treasuries and retail investors alike, it said.
Business Insider
09-06-2025
- Business
- Business Insider
Geojit Research Sticks to Its Hold Rating for Jio Financial Services Limited (JIOFIN)
In a report released today, from Geojit Research maintained a Hold rating on Jio Financial Services Limited (JIOFIN – Research Report), with a price target of INR276.00. The company's shares closed last Friday at INR294.10. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The analyst consensus on Jio Financial Services Limited is currently a Hold rating. Based on Jio Financial Services Limited's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of INR2 billion and a net profit of INR3.13 billion. In comparison, last year the company earned a revenue of INR2.4 billion and had a net profit of INR3.32 billion
India.com
27-05-2025
- Business
- India.com
Meet man who is 'richer' than Musk, Mukesh Ambani, 'owns' half of the US, set to start business in India with..., name is...
Meet man who is 'richer' than Musk, Mukesh Ambani, 'owns' half of the US, set to start business in India with..., name is... Larry Fink is the CEO of BlackRock, the world's largest asset management company. The financial firm has assets of more than USD 11 trillion, which is less than half of the GDP of the United States – USD 30 trillion. Now, the company is eyeing starting a business in India. BlackRock is going to start the mutual fund business in India in collaboration with Mukesh Ambani's company, Jio Financial Services Limited. Notably, the financial firm's status can be estimated from the fact that, by January this year, it had assets worth USD 11.6 trillion, which is double or even triple the GDP of many countries. Who is Larry Fink Larry Fink is the individual responsible for overseeing the entire asset management business at BlackRock. He is the chairman and CEO of this global investment firm. Fink and his firm have investments in several companies of many countries across the world, having a strong hold on the entire global stock market. Although Larry Fink manages a tremendous sum of money, he isn't considered a billionaire in the traditional sense. This is because his wealth is primarily derived from managing public investments entrusted to BlackRock through mutual funds and other market-based vehicles, rather than personal ownership. The article explains the nature of his asset management business and his role within it. The Asset Management Business Asset Management Companies, also known as AMCs, are financial firms that are active in many financial businesses, such as mutual funds and investments. However, in the mutual fund business clients of these firms invest money for better returns. Since BlackRock is the world's largest asset management firm, its name holds a lot of significance for stock markets around the world. Larry Fink Started Out With 7 Friends Lawrence Fink and seven partners founded BlackRock in 1988. Over the subsequent 37 years, under Fink's leadership, it grew into the world's largest asset management firm, holding investments in numerous major global corporations, including prominent companies in both the United States and India.
