Jio Financial Q2 profit rises 0.9% YoY to Rs 695 crore, revenue jumps 41% on strong business growth

Jio Financial Services Ltd (JFSL), the financial arm of Reliance Industries, on Thursday reported a 0.9% year-on-year (YoY) rise in consolidated net profit at Rs 695 crore for the quarter ended September 2025 (Q2FY26), compared with Rs 689 crore in the same period last year. The company’s performance reflected steady profit growth and strong topline expansion as it continued scaling its digital lending and asset management operations.

Revenue from operations surged 41% YoY to Rs 981 crore, up from Rs 693 crore in Q2FY25. On a sequential basis, both profit and revenue saw robust gains — net profit soared 114% from Rs 325 crore in Q1FY26, while total income jumped 60% quarter-on-quarter (QoQ) compared with Rs 612 crore in the previous quarter.

Interest income for the quarter rose to Rs 392 crore, up from Rs 363 crore in Q1FY26 and Rs 205 crore in Q2FY25, reflecting a growing loan book. Revenue from fees, commission, and other services climbed sharply to Rs 140 crore, compared with Rs 54 crore in the preceding quarter and Rs 41 crore in the year-ago period.

Profit before tax (PBT) stood at Rs 783 crore, higher than Rs 419 crore in Q1FY26 and nearly flat compared to Rs 773 crore in Q2FY25. The company’s pre-provisioning operating profit came in at Rs 579 crore, marginally higher than Rs 552 crore in the year-ago quarter.

However, the company’s total expenses rose significantly, reaching Rs 436.5 crore, a 68% increase QoQ and a 199% rise YoY. These included higher finance costs, employee benefits, and other operating expenses, indicating aggressive business expansion and operational scaling.

On the balance sheet front, Jio’s Assets Under Management (AUM) grew sharply to Rs 14,712 crore from Rs 1,206 crore a year earlier. Its asset management business (AMC) reported an AUM of Rs 15,980 crore, while its maiden New Fund Offer (NFO) — the JioBlackRock Flexi Cap Fund — mobilised Rs 1,500 crore in investor subscriptions.

Commenting on the results, Hitesh Sethia, Managing Director and CEO of JFSL, said:

“The significant growth in business income is a result of initiatives taken over the past few quarters toward scaling up profitably through a risk-calibrated growth strategy. Our expanding user base validates the strong market response to our offerings.”

He added that JioFinance is leveraging AI and analytics to deliver intelligent, personalised financial products, and the benefits of these digital initiatives will be more visible in the coming quarters.

During the quarter, JioBlackRock Mutual Fund launched subscriptions for its Flexi Cap Fund on September 23, with the NFO closing on October 7. The open-ended equity scheme follows a flexi-cap structure, investing across large, mid, and small-cap segments to generate long-term capital appreciation. The minimum investment amount is ₹500, with no entry or exit load.