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Jio Financial Services
SectorFinancial Services
Jio Financial Services Limited, formerly known as Reliance Strategic Investments Limited, is an India-based non-deposit taking non-banking financial company. Incorporated in 1999, it was renamed and listed on August 21, 2023, following a demerger from Reliance Industries Limited. The company aims to provide financial services to underserved individuals and small businesses in urban, semi-urban, and rural India. Its offerings include digital payment banking solutions, insurance broking, and merchant services. Jio Financial Services focuses on delivering simple, transparent financial products through its digital and physical infrastructure to enhance accessibility and convenience for various segments of society.
In the news
Jio Financial Q2 FY27: Growing Pains of Building a Financial Giant
Jio Financial Q2 profit drops 51% YoY to ₹340 crore; stock falls 2.5%
Jio-Allianz's ₹640 Crore Bet: Inside the Strategic Capital Play
Corporate Developments: Strategic Moves Shaping India Inc
Jio, Allianz each invest ₹320 cr in Jio Allianz General Insurance
Jio Financial Services hits 52-week low with 26% YTD decline
Jio Financial launches AI personal CFO, membership program
Jio Financial launches AI CFO service as India's AI infrastructure boom drives ₹200 crore investments
Jio Financial Services Q1 FY27: Revenue Surge, Ecosystem Expansion, and Strategic Investments
Q4FY26 Banking & Financial Services: Divergent Paths to Growth
The Quarter story
The two most recent quarterly results, compared side-by-side.
Lending and AUM scale up, but funding costs and JV drag bite.
Jio Credit gross AUM grew from ₹14,712 Cr in Q2 FY26 to ₹37,320 Cr in Q2 FY27 — lending book is scaling fast
Jio Credit capital adequacy ratio fell from 31.4% in Q2 FY26 to 18.50% in Q2 FY27 — capital buffer is thinning as lending grows
Jio Credit net interest income grew from ₹140 Cr in Q2 FY26 to ₹302 Cr in Q2 FY27 — spread income is improving
Consolidated finance cost rose from ₹136 Cr in Q2 FY26 to ₹578 Cr in Q2 FY27 — funding costs are rising across the group
Jio Payments Bank deposits grew from ₹421 Cr in Q2 FY26 to ₹643 Cr in Q2 FY27 — deposit base is building
Consolidated share of associates and JVs fell from ₹217 Cr in Q2 FY26 to -₹44 Cr in Q2 FY27 — joint ventures are dragging earnings
BlackRock JV closing AUM grew from ₹15,980 Cr in Q2 FY26 to ₹22,746 Cr in Q2 FY27 — asset management is gaining traction
Jio Insurance premium facilitated fell from ₹347 Cr in Q2 FY26 to ₹238 Cr in Q2 FY27 — insurance broking has not recovered
Jio Payment Solutions net processing margin rose from 10 bps in Q3 FY26 to 14 bps in Q2 FY27 — payments economics are improving
Jio Credit provisions rose from ₹19 Cr in Q3 FY26 to ₹41 Cr in Q2 FY27 — credit costs are increasing
Company insights, generated from the most recent coverage.
Interest income looks set to become ~74% of JFS total income (₹1,258 Cr of ₹1,699 Cr) versus ~39% a year earlier — earnings shift from lumpy dividend and treasury income to spread income, making results more recurring but far more exposed to rates and credit cycles.
JFS's interest income growing ~221% against total income of ~70% is arithmetic, not acceleration — the prior-year base included dividends and other income, and lending is compounding off a small denominator. Read the two growth rates together, not separately.
JFS's Q2 FY27 consolidated total income of ~₹1,699 Cr is +70% YoY off a ₹1,002 Cr base; the 132% figure circulating uses a narrower ₹733 Cr revenue measure. Always confirm which income definition a growth rate is built on before comparing quarters.