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18-Jul-2025     12:34
Jio Financial Q1 PAT rises 3.8% YoY, AMC business scales rapidly
The pre-provisioning operating profit stood at Rs 366 crore, up 8%, while profit before tax rose 4.5% to Rs 419 crore during the period under review.

The standout performer was its lending arm, Jio Credit Limited (JCL). Its AUM skyrocketed to Rs 11,665 crore in Q1 FY26, compared to just Rs 217 crore a year ago. This is also a solid jump from Rs 10,053 crore in Q4 FY25. Net interest income spiked 240% to Rs 118 crore, and PAT grew 24% to Rs 45 crore. With a net worth of Rs 4,983 crore and a capital adequacy ratio of 38.2%, JCL is well capitalized, maintaining a conservative debt-to-equity ratio of 1.7x.

Operationally, JCL now has a presence in 11 cities and has launched an end-to-end digital journey for loans against securities. The company also secured a AAA rating from CareEdge and CRISIL for its NCDs, boosting its credit profile. A new debt management framework has been rolled out to strengthen collections and streamline operations.

On the asset management front, Jio BlackRock, the company's JV with global giant BlackRock, is making quick gains. As of 2 July 2025, the JV had an AUM of Rs 17,876 crore, making it one of the top 15 debt asset managers in India. Its new fund offerings across overnight, liquid, and money market categories have pulled in more than 90 institutional investors and 67,000 individuals, making it one of India's largest debt NFOs.

Five new index funds have received regulatory clearance. The JV is also leveraging BlackRock's Aladdin platform to deliver a fully integrated, tech-driven investment experience. The JV is also eyeing wealth and broking services. Jio has been approved to operate as an Investment Adviser and is finalizing its go-to-market strategy. Meanwhile, Jio BlackRock Broking was incorporated in January 2025 and received its broking license by June.

In the banking space, Jio Financial acquired SBI's 14.96% stake in Jio Payments Bank (JPBL) for Rs 105 crore, making it a wholly-owned subsidiary. As of June 30, JPBL had 2.58 million customers and a deposit base of Rs 358 crore. It also secured empanelment from NHAI and Indian Highway Management Company Limited (IHMCL) as an acquirer bank for toll collection, adding three plazas to its portfolio. This diversification is expected to strengthen the bank's revenue mix.

Hitesh Sethia, managing director and CEO, JFSL, said: As we scale up, by nurturing businesses at various stages of maturity, our results reflect the measured and evolving nature of our growth curve. The significant capital received during the demerger uniquely positions us to support early stage businesses through returns on market investments, and deploy capital more assertively in businesses that exhibit strong unit economics and profitability.

We are also in the advanced stages of enhancing the JioFinance app as an intuitive and intelligent platform, which will offer a diverse range of products from well-known finance brands, complementing our in-house product portfolio. This will enable us to offer a comprehensive suite of financial services to customers across all demographics and geographies. Our core purpose remains consistent: to create exceptional customer and shareholder value at scale through innovation, discipline and strategic foresight.

Jio Financial Services is a Core Investment Company (CIC), registered with the Reserve Bank of India. JFSL is a new-age institution, which operates a full-stack financial services business through customer-facing entities, including Jio Credit, Jio Insurance Broking, Jio Payment Solutions, Jio Leasing Services, Jio Finance Platform and Service, and Jio Payments Bank.

Shares of Jio Financial Services were down 0.36% at Rs 316.95 on the BSE.

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