Jio Financial Services Ltd (JFS), previously part of Reliance Industries Ltd, is set to announce its Q1 results for June today. The company, which operates through its subsidiaries, has seen its stock increase by 49% in 2024, marking a strong performance since its demerger..
The company was officially listed as a separate entity after its demerger from Reliance Industries in fiscal 2024. JFS’s transition into an independent firm was further solidified last week when it received RBI approval to become a core investment company (CIC).
Also Read: Kataria Industries IPO GMP Today, Price Range and Company Details
As of March 31, 2024, JFS reported a consolidated net worth of Rs 1,39,148 crore. This valuation includes a 6.1% stake in Reliance Industries Ltd, highlighting its substantial financial backing and market presence.
The promoter group increased its stake in JFS from 45.8% to 47.12% post-listing, demonstrating a strong commitment to the company’s growth and stability.
For the March quarter, JFS reported a net profit of Rs 310 crore and a net interest income of Rs 280 crore. Total income and revenue for the quarter both stood at Rs 418 crore, reflecting robust financial health and operational efficiency.