Jio Financial Services Q4 results: JFS stock drops 2% ahead of quarterly earnings
Jio Financial had on April 9 suggested that it would make a presentation to analysts on financial results of the company for the quarter and year ended March 31, 2024 post quarterly results.
- Apr 19, 2024,
- Updated Apr 19, 2024 11:14 AM IST
Share of Jio Financial Services Ltd (JFS) fell over 2 per cent in Friday's trade ahead of the demerged entity of Reliance Industries' March quarter results. The stock, which has gained 5 per cent in April so far, declined 2.2 per cent to hit a low of Rs 369.85 today on BSE.
Ahead of its earnings, largecap MF schemes sold Rs 399 crore worth Jio Financial shares in March, data compiled by Elara Securities suggested. As per Elara, Smallcap schemes sold Rs 106 crore worth Jio Financial shares while multi-flexi cap schemes sold Rs 184 crore worth Jio Financial shares. March saw Jio Financial shares rallying 14 per cent. The JFS stock is up 58 per cent year-to-date.
For the December quarter, Jio Financial clocked a net profit of Rs 294 crore against Rs 668 crore in the September quarter. Jio Financial's total income for the quarter stood Rs 414 crore compared with Rs 608 crore in the September quarter. Unlike September quarter, there was no dividend income in the December quarter.
"A meeting of the Board of Directors of the company is scheduled to be held on Friday, April 19, 2024, inter alia, to consider and approve the standalone and consolidated audited financial results of the company for the quarter and year ended March 31, 2024.
Jio Financial had on April 9 suggested that it would make a presentation to analysts on financial results of the company for the quarter and year ended March 31, 2024 post quarterly results.
JFS recently signed an agreement to form a 50:50 joint venture with Blackrock, to undertake wealth business including incorporation of a wealth management company and subsequent incorporation of a brokerage company in India.
"This joint venture further strengthens the Company’s relationship with Blackrock, Inc., with whom the Company had announced a 50:50 joint venture on July 26, 2023 to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India," it said.
Share of Jio Financial Services Ltd (JFS) fell over 2 per cent in Friday's trade ahead of the demerged entity of Reliance Industries' March quarter results. The stock, which has gained 5 per cent in April so far, declined 2.2 per cent to hit a low of Rs 369.85 today on BSE.
Ahead of its earnings, largecap MF schemes sold Rs 399 crore worth Jio Financial shares in March, data compiled by Elara Securities suggested. As per Elara, Smallcap schemes sold Rs 106 crore worth Jio Financial shares while multi-flexi cap schemes sold Rs 184 crore worth Jio Financial shares. March saw Jio Financial shares rallying 14 per cent. The JFS stock is up 58 per cent year-to-date.
For the December quarter, Jio Financial clocked a net profit of Rs 294 crore against Rs 668 crore in the September quarter. Jio Financial's total income for the quarter stood Rs 414 crore compared with Rs 608 crore in the September quarter. Unlike September quarter, there was no dividend income in the December quarter.
"A meeting of the Board of Directors of the company is scheduled to be held on Friday, April 19, 2024, inter alia, to consider and approve the standalone and consolidated audited financial results of the company for the quarter and year ended March 31, 2024.
Jio Financial had on April 9 suggested that it would make a presentation to analysts on financial results of the company for the quarter and year ended March 31, 2024 post quarterly results.
JFS recently signed an agreement to form a 50:50 joint venture with Blackrock, to undertake wealth business including incorporation of a wealth management company and subsequent incorporation of a brokerage company in India.
"This joint venture further strengthens the Company’s relationship with Blackrock, Inc., with whom the Company had announced a 50:50 joint venture on July 26, 2023 to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India," it said.