Q4 profit of Jio Financial Services down 14% to ₹272cr
What's the story
Jio Financial Services, the financial arm of Reliance Industries, has reported a nearly 14% decline in its consolidated net profit for the March quarter. The company's net profit stood at ₹272 crore, down from ₹316 crore in the same period last year. The decline is mainly attributed to a significant spike in expenses during this fiscal year.
Financial overview
Total income nearly doubled YoY
The company's total income for the March 2026 quarter stood at ₹1,020 crore, nearly double from ₹518 crore in the same period last year. However, total expenditure surged to ₹692 crore during this period, up from just ₹145 crore in Q4 of FY25. The company said, "Geopolitics-led volatility impacted treasury income on a higher capital base."
Annual report
Dividend of ₹0.60 per equity share approved
For the full fiscal year 2025-26, Jio Financial Services posted a net profit of ₹1,561 crore as against ₹1,613 crore in FY25. The company also announced a dividend of ₹0.60 per equity share of ₹10 each for the financial year ended March 31, 2026. It approved Annapoorna Venkataramanan's appointment as Group Chief Financial Officer effective May 11.
Banking growth
A look at Jio Payments Bank
Jio Payments Bank also witnessed a massive jump in its total income, which grew 11 times year-on-year to ₹87 crore in Q4 FY26. The bank's CASA customer base increased by 61% year-on-year to 3.7 million during this period. The average deposit per customer also rose by 20% year-on-year to ₹1,439 in Q4 FY26.