- Jio Financial Services, a subsidiary of Reliance Industries, reported a net profit of Rs 293 crore (a 56% decrease from the previous quarter) for the December quarter, down from Rs 668 crore in the previous quarter. The company’s net interest income was Rs 269 crore for the quarter.
- The company’s revenue also decreased 32% from the previous quarter, to Rs 413.61 crore.
- Jio Financial’s expenses for the quarter were Rs 98.95 crore, an increase from the previous quarter’s Rs 71.43 crore.
- The company’s net interest income and total revenue also decreased.
- The company also recently appointed two new executives.
- Jio Financial plans to launch two new businesses: supply chain financing and leasing.
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