Q4 statistics for Jio Financial Services show a net profit of Rs 310 crore and NII of Rs 280 crore

Q4 statistics for Jio Financial Services show a net profit of Rs 310 crore and NII of Rs 280 crore

Q4 results for Jio Financial Services: In the preceding quarter, the business declared a net profit of Rs 293 crore and net interest income of Rs 269 crore.

For the quarter, the company's net interest income (NII) was Rs 280 crore.

On April 19, Jio Financial Services announced a net profit of Rs 310 crore for the fiscal year 2023–2024's January–March quarter.

For the quarter, the company's net interest income (NII) was Rs 280 crore. Its revenue was Rs 418 crore, and its total income was Rs 418 crore.

The August 2023-listed business had a net profit of Rs 293 crore and net interest income of Rs 269 crore for the preceding quarter. Its revenue was Rs 413 crore, while its total interest income was Rs 414 crore.

On the BSE, shares of Jio Financial Services ended the day 2.17 percent down at Rs 370 a share. Prior to today, the stock closed at a record high of Rs 378.4 on Thursday, April 18, up 4.6 percent. On the daily charts, the stock produced a bullish candlestick pattern with volumes above average. Since January 29 of this year, the stock has found significant support from the 21-day exponential moving average (EMA).

According to the company's investor presentation for the quarter, its total loans were Rs 173 crore as opposed to Rs 41 crore during the same time the previous year. Additionally, it said that the organization is now in the vender finance industry and that house loans, loans secured by real estate, and loans secured by mutual funds are all in the works.

JFS-Blackrock partnership

On April 15, Jio Financial Services announced that it had partnered with US company BlackRock in a 50:50 partnership to provide wealth management and brokerage services in India.

We will incorporate two businesses: one for brokerage and the other for wealth management.

Prior to this, in July 2023, Jio Financial Services and BlackRock announced that they will be forming a 50:50 joint venture to enter the asset management industry in India with a $150 million investment each.