Jio Financial Services: What Ventura said on balance sheet, Jio Payments post Q2 results

Ventura Securities in a note on Jio Financial Services (JFSL) said the company's balance sheet remains strong, with a net worth of Rs 1.34 lakh crore as of September 2025, positioning the company well to continue its growth trajectory. Strategic moves, including the acquisition of the remaining 14.96 per cent stake in Jio Payments Bank and a sharp focus on digital-first solutions, further solidify its competitive edge. The company is expanding its physical footprint across 50,000 business correspondent touchpoints, ensuring deeper penetration into underserved markets, Ventura Securities said.

With its integrated financial services suite, JFSL is well-positioned to capitalise on India's evolving financial landscape, underpinned by innovation and a strong technology platform, the brokerage added.

JFSL shares are up 22 per cent in the past six months against a 6.33 per cent rise in the NSE Nifty. 

The brokerage noted that JFSL delivered a robust performance in Q2 FY26, showing strong growth across key operational metrics. The company recorded a 44 per cent YoY increase in consolidated total income, reaching Rs 1,002 crore, driven by contributions from its diversified business operations.

The net income from business operations rose significantly to Rs 317 crore. while pre-provisioning operating profit surged 5 per cent YoY to Rs 579 crore.

On asset management, Ventura said JFSL’s AMC AUM grew to Rs 15,980 crore, and the first active equity Flexi Cap NFO raised INR 1,500 crore, marking strong market interest.

In the case of lending, the NBFC (Jio Credit Limited) saw its AUM grow to Rs 14,712 crore with strong disbursements of INR 6,624 crore in the quarter. This growth, Ventura said, was supported by its diverse suite of lending products, including Loan Against Mutual Funds, Shares, and Home Loans.

On payments, Jio’s Payments Solutions recorded a 167 per cent YoY growth in TPV to Rs 13,566 crore, while its Payments Bank saw a 15 times QoQ increase in transaction throughput, expanding its customer base with 2.58 million CASA customers.

In the case of insurance, the Insurance Broking business facilitated INR 347 crore in premiums, issuing 2.9 lakh policies, and launched Allianz Jio Reinsurance, a 50:50 joint venture with Allianz.