Jio Financial Services Limited Q1 FY26 Consolidated Total Income at Rs. 619 crore, up 48% YoY

Mumbai, July 18th, 2025: The Board of Directors of Jio Financial Services Limited (“JFSL”, also referred to as the “Company”), at its meeting held in Mumbai today, approved the unaudited financial results for the first quarter of financial year 2025-26, ended June 30, 2025 (Q1 FY26).

Consolidated financial highlights for the quarter ended June 30, 2025, were as follows:

• Assets Under Management (AUM) of JioBlackRock Asset Management exceeds Rs. 17,800 crore^
• Jio Credit Limited (JCL) AUM at Rs. 11,665 crore, up from Rs. 217 crore in Q1 FY25
• Pre-provisioning Operating Profit at Rs. 366 crore, up 8% YoY
• Profit After Tax at Rs. 325 crore, up 4% YoY

JFSL, a digital-first financial services company, catering to the core financial needs of customers – the Need to Invest, Borrow, Transact and Protect – reported strong growth momentum in Q1 FY26.  This reflected in the higher Net Income from Business, as well as its larger contribution to Total Net Income.

Net Income from Business comprises fee and net interest income from the NBFC; net interest income from the payments bank; fee and commission income from the payment solutions and insurance broking businesses.

The Company continues to report healthy profitability, even as it focuses on investing for risk-calibrated growth across businesses, with a sharp focus on unit economics across entities.

Q1 FY26 was marked by further scale-up of operational execution; expanding distribution footprint across digital and physical touchpoints; key regulatory approvals needed for future business plans; and further progress in technology and data analytics initiatives.

Jio BlackRock Asset Management Private Limited received approval to commence operations in May 2025, and launched its maiden New Fund Offer (NFO) for three cash/debt funds on June 30, 2025. The funds launched for subscription received a robust response from institutional and retail investors. The total investments attracted by the three funds over the three-day NFO period stood at over Rs. 17,800 crore, placing the asset management company among the top 15 fund houses in India, by Debt AUM. Over 90 institutional investors and around 67,000  retail investors participated in the offer.

The other entities of the JioBlackRock JV – JioBlackRock Investment Advisers Private Limited and JioBlackRock Broking Private Limited – also received regulatory approvals to commence wealth management and securities broking operations respectively, during the quarter. These businesses are currently in the process of building the teams and firming up their go-to-market strategy.

JCL continued to grow its AUM during the quarter, in the backdrop of the current industry environment. The measured growth in AUM is a function of a credit-conscious approach to building a high-quality and risk-calibrated loan book. The NBFC commenced its market borrowings program during the quarter and raised funding at a competitive cost. The encouraging market response to JCL’s market issuance reflected the strength of the brand and the quality of the business being built.

During Q1 FY26, JFSL acquired State Bank of India’s 14.96% stake in Jio Payments Bank Limited (JPBL) for ~Rs. 105 crore. With this, JPBL has become a wholly-owned subsidiary of JFSL. As on June 30, 2025, the payments bank had 2.58 million customers and a deposit base of Rs. 358 crore.

JPBL was empaneled by the National Highway Authority of India (NHAI) and Indian Highway Management Company Limited (IHMCL) as an acquirer bank for toll processing, and was awarded three plazas for toll collection. New business lines such as this will allow the payments bank to diversify its revenue stream.

On the distribution front, JFSL continued to enhance its reach across digital and physical touchpoints.  The JioFinance app, a unified digital storefront for JFSL’s retail-focused products and services, recorded 8.1 million average monthly active users (MAU) across all digital properties in Q1 FY26.

JPBL’s network of business correspondents (BC) grew 2.5x QoQ to over 50,000 BCs, ensuring wide reach for the bank across the country. JCL, Jio Payment Solutions Limited and Jio Insurance Broking Limited also expanded their customer touchpoints across major Indian cities.

On the technology front, the advanced AI and data analytics engine implemented for the group enabled a ‘Single Customer View’ interface for sharper consumer insights and engagement. An advanced app intelligence architecture, which will allow the JioFinance app to hyper-personalise for customers at scale is also in advanced stages of implementation.

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.”