Jio's Q1 Financial Results Show a 3.85% Increase in Profit, Reaching Rs 324.66 Crore
Jio Financial Services, a subsidiary of Reliance Industries, has reported a strong performance in the first quarter of the financial year 2026 (Q1FY26). The company posted a consolidated net profit (PAT) of approximately ₹325 crore, marking a 3.8% year-on-year increase from ₹313 crore in Q1FY25 and about 4.5% higher than the previous quarter (Q4FY25) profit of ₹310-316 crore.
The revenue and income for Jio Financial Services also showed significant growth. Total consolidated revenue was approximately ₹612-619 crore, representing a 48% growth both quarter-on-quarter (QoQ) and year-on-year (YoY). Interest income increased significantly to ₹363 crore compared to ₹276 crore in the prior quarter. Fee, commission, and other service income also rose to ₹53 crore from ₹39 crore in Q4FY25.
Jio Financial Services made an exceptional gain of ₹28.57 crore during the quarter. Notably, the company acquired the remaining 14.96% equity stake in Jio Payments Bank Limited (JPBL) from State Bank of India for about ₹105 crore, making JPBL a wholly owned subsidiary as of June 18, 2025. This acquisition led to a fair value gain of ₹439 crore over recorded goodwill.
The lending business contributed to the improved net interest income of ₹264 crore. With JPBL now fully owned, Jio Financial Services strengthened its payments bank operations, which is expected to enhance its product offerings and service reach.
Expenses increased sharply by 150% QoQ and 221% YoY to ₹261 crore, reflecting investment in growth activities, finance cost, employee benefits, and other operational expenses.
Jio Credit, the lending arm of Jio Financial Services, reported an impressive year-on-year increase in net interest income, with a 240% growth to Rs 118 crore. The assets under management (AUM) for the NBFC business of Jio Financial Services grew from Rs 217 crore in Q1 FY25 to Rs 11,665 crore in Q1 FY26.
Deposits in Jio Payments Bank increased 206% to Rs 358 crore, and the customer base grew to 2.58 million CASA customers in Q1FY26. The consolidated pre-provisioning operating profit (PPOP) for Jio Financial Services stood at Rs 366 crore, showing an 8% YoY growth.
In other news, JioBlackRock Asset Management, a joint venture between Jio Financial Services and BlackRock, has received Sebi nod for 5 passive funds, including four equity-based index funds and one debt-oriented fund. The AUM for JioBlackRock AMC reached Rs 17,876 crore after the NFO closure on July 2, 2025.
Overall, Jio Financial Services demonstrated robust growth in net income, substantial revenue increase, strategic acquisition of the payments bank for full control, and expansion of its lending and payments businesses in Q1FY26. The company's performance indicates a promising future for its financial services division.
- The lending arm of Jio Financial Services, Jio Credit, saw an impressive year-on-year increase in net interest income, with a 240% growth to Rs 118 crore.
- The consolidated pre-provisioning operating profit (PPOP) for Jio Financial Services stood at Rs 366 crore, showing an 8% year-on-year growth in Q1FY26.
- Jio Financial Services strengthened its payments bank operations with the acquisition of Jio Payments Bank Limited (JPBL), making it a wholly owned subsidiary as of June 18, 2025.
- In personal-finance news, JioBlackRock Asset Management, a joint venture between Jio Financial Services and BlackRock, has received Sebi nod for 5 passive funds, expanding their asset management business.
- Investment in growth activities, finance cost, employee benefits, and other operational expenses led to a sharp increase in expenses by 150% quarter-on-quarter and 221% year-on-year to ₹261 crore in Q1FY26.
