Jio Financial Services reported consolidated net profit of ₹340.4 crore for the second quarter of FY27, down 51% from ₹695 crore a year earlier and down 59% from ₹830.3 crore in the previous quarter, according to Inc42. Operating revenue rose 73% on the year to ₹1,699.3 crore.
Revenue up, profit down
Operating revenue was ₹1,699.3 crore against ₹981.4 crore a year earlier, but 15.2% lower than the ₹2,004.5 crore of the previous quarter. Total expenses were ₹1,166.1 crore, up 167% on the year and 15% on the quarter. Finance costs, at ₹577.7 crore, were up 325% on the year.
Dividend income also changed. It was ₹269 crore in the second quarter of FY26 and ₹508.6 crore in the first quarter of FY27, and the company booked none in this quarter. The report links the fall in profit partly to that absence.
What management said
Chief executive Hitesh Sethia described the quarter as another of strong operational growth across the financial services platform and pointed to partnerships with Bank of America in lending, BlackRock in investments and Allianz Group in insurance. The report puts the rise in expenses down to higher borrowing to fund asset growth, together with higher operating and staff costs as the digital platform scales. It credits the revenue growth to a larger loan book at Jio Credit, insurance broking fees and growth in assets managed by the asset management joint venture.
By business
- Jio Credit: gross disbursements nearly doubled to ₹13,135 crore, and assets under management rose 154% to ₹37,320 crore. The report places here an agreement under which Bank of America would acquire up to 49.9% for up to ₹18,268 crore, subject to regulatory approvals.
- Jio Payments Bank: total income rose 213% to ₹94 crore, customer deposits rose 53% to ₹643 crore, and the bank has about 40 lakh CASA accounts.
- Jio Payment Solutions: total payment value was ₹14,682 crore, up 8%, with gross fee and commission income up 70% to ₹130 crore.
- Jio BlackRock Asset Management: closing assets under management rose 57% to ₹22,746 crore.
- Jio Insurance Broking: facilitated premiums of ₹346 crore and fee income of ₹54 crore, up 46%.
- JioFinance app: 3.2 crore unique users.
What the report does not give
The article does not provide first-half profit. It lists other income as ₹13 lakh against ₹21.1 crore a year earlier, a gap in units that the report itself flags as possibly an error. The company's exchange filing is the place to confirm these items.
What boards and CFOs should note
Three points stand out for finance teams. First, revenue and profit moved in opposite directions: revenue grew 73% while profit fell 51%. Second, the report attributes the profit decline mainly to the loss of dividend income and to costs that grew faster than revenue, with finance costs up 325%. Third, Jio Credit's assets under management grew 154% on the year to ₹37,320 crore.
Source: Inc42, 15 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
