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Jio Financial shares drop by over 6%; here’s what you should know about the Q3 results | India Business News
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JFSL share price today: Shares of Jio Financial Services (JFSL), the financial arm that demerged from Reliance Industries (RIL) last year, experienced a decline of 6.25% on Tuesday, reaching a low of Rs 250.10 on the Bombay Stock Exchange. This drop followed the non-banking financial company’s (NBFC) report of a 56% decrease in consolidated profit in the third quarter (Q3).
As of 11:37 AM, shares of JFSL were trading 5% lower at Rs 253.45 on BSE.
According to ET, the profit after tax fell to Rs 294 crore during Q3. This decline is attributed to the absence of dividend income from shares held in RIL and an increase in operating expenses due to employee additions, capacity building, and corporate social responsibility (CSR) expenses.JFSL’s management told investors that they are now more focused on secured lending, following current market trends and regulatory shifts. They also have plans to start a leasing business and explore supply chain financing.
In the insurance broking sector, the company expanded its client base to 27 and is actively expanding its payments bank and payments platforms.
During an investor call, JFSL’s management emphasised the substantial lending opportunities, particularly in unsecured lending. The company plans to concentrate on secured products, launching “Device As-a-Service” (DaaS), involving the leasing of airfiber, phones, laptops, along with supply chain financing, loans against shares, and home loans.
As of 11:37 AM, shares of JFSL were trading 5% lower at Rs 253.45 on BSE.
According to ET, the profit after tax fell to Rs 294 crore during Q3. This decline is attributed to the absence of dividend income from shares held in RIL and an increase in operating expenses due to employee additions, capacity building, and corporate social responsibility (CSR) expenses.JFSL’s management told investors that they are now more focused on secured lending, following current market trends and regulatory shifts. They also have plans to start a leasing business and explore supply chain financing.
In the insurance broking sector, the company expanded its client base to 27 and is actively expanding its payments bank and payments platforms.
During an investor call, JFSL’s management emphasised the substantial lending opportunities, particularly in unsecured lending. The company plans to concentrate on secured products, launching “Device As-a-Service” (DaaS), involving the leasing of airfiber, phones, laptops, along with supply chain financing, loans against shares, and home loans.
In payment solutions, JFSL conducted a pilot launch of the Jio Voice box, enabled Jio phones with UPI, and is implementing QR codes across its ecosystem. Furthermore, the company has applied to SEBI for an asset management license in collaboration with Blackrock, having already established a management team for the purpose.
JFSL has filed for conversion from an NBFC to a Core Investment Company (CIC) and established a separate 100% subsidiary, JIASL, to handle leasing operations.
Despite a 32% rally in the stock over the last three months, JFSL currently lacks significant analyst ratings.
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