Jio Financial Services: Stock Journey Since Listing, Financial Highlights, and Latest Developments

Jio Financial Services Limited (JFSL) was initially established as Reliance Strategic Investments Private Limited, a subsidiary of the Indian multinational conglomerate Reliance Industries Limited (RIL). Following its demerger with RIL, the company was rebranded as Jio Financial Services Limited, receiving a new certificate of incorporation on July 25, 2023. In this article, learn about the share performance of Jio Financial Services, recent financial performance and latest developments.

Jio Financial Services Share Performance 

Jio Financial Services has been listed on the BSE and NSE since August 21, 2023. Upon its listing, JFSL opened at ₹262.00. The stock reached its all-time high of ₹394.70 on April 23, 2024, and its all-time low was ₹202.80 on August 25, 2023.

As of October 30, 2024, Jio Financial Services share price opened at ₹326.75 and touched the day’s low at ₹321.05 as of 12:25 PM. The stock provided a 1-year return of 48.95% and a 5-year return of 31.06%. With a market capitalisation of ₹2,05,238.24 crores, JFSL continues to be a prominent player in the financial services sector. 

H1 and Q2 FY 2025 Financial Performance

In Q2 FY25, the total income for the company reached ₹694 crore, marking an increase from ₹608 crore in Q2 FY24 and ₹418 crore in Q1 FY25. For the first half of the fiscal year, total income amounted to ₹1,112 crore, slightly up from ₹1,022 crore in H1 FY24. 

The Profit After Tax (PAT) for Q2 FY25 stood at ₹689 crore, compared to ₹668 crore in Q2 FY24 and ₹313 crore in Q1 FY25. The PAT for H1 FY25 was ₹1,002 crore, nearly equal to ₹1,000 crore in H1 FY24. 

The net worth was ₹1,37,144 crore as of September 30, 2024.

Recent Developments

In celebration of Dhanteras 2024, Jio Financial Services has introduced an opportunity for customers to invest in digital gold through SmartGold via the JioFinance app. This innovative service enables customers to purchase gold conveniently and securely, allowing them to redeem their investments for cash, gold coins, or gold jewellery. With investments starting as low as ₹10, customers can now buy digital gold anytime and anywhere.

In another significant development, Jio Payment Solutions Limited (JPSL), a wholly owned subsidiary of Jio Financial Services, announced on October 28, 2024, that it has received a certificate of authorisation from the Reserve Bank of India to operate as an ‘Online Payment Aggregator’ under Section 7 of the Payment and Settlement Systems Act, 2007, effective the same day.

Furthermore, Jio Financial Services has partnered with BlackRock to establish a joint venture aimed at entering India’s Asset Management Industry. This partnership was disclosed in a filing with the Stock Exchanges through its parent company, Reliance Industries Limited, on October 4, 2024. As part of this initiative, two new entities, “Jio BlackRock Asset Management Private Limited” and “Jio BlackRock Trustee Private Limited”, were incorporated on October 28, 2024, to primarily engage in mutual fund operations, subject to regulatory approvals.

Conclusion

Jio Financial Services Limited continues to demonstrate growth and adaptability in the evolving financial landscape. With its innovative offerings and strategic partnerships, the company is well-positioned to capitalise on emerging opportunities in the digital finance sector. As JFSL embarks on new ventures, it remains a key player to watch in India’s financial services industry.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.