Jio Financial Services Q3 FY26 profit at Rs 269 crore as core businesses drive sharp income growth

Jio Financial Services Ltd (Reuters Photo)

• JFSL Q3 profit Rs 269 crore; income doubled to Rs 901 crore YoY
• Lending arm's assets under management rose 4.5 times to Rs 19,049 crore
• Jio Payments Bank income grew 10-fold; customer base reached 3.2 million

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Jio Financial Services Ltd (JFSL) reported a consolidated profit of Rs 269 crore for the third quarter ended December 31 as the company's total income more than doubled from a year earlier, led by sharp growth in its core businesses.

Consolidated total income for Q3 FY26 doubled to Rs 901 crore from a year earlier, reflecting higher contribution from lending, payments, asset management and other fee-based businesses. Pre-provisioning operating profit increased 7 percent to Rs 354 crore, with the company noting that income growth was partly offset by higher expenses in line with scaling up across businesses.

A key highlight of the quarter was the rising share of income from operating businesses. Net income from core businesses accounted for 55 percent of consolidated net income in Q3 FY26, compared with 20 percent in the year-ago period.

Jio Financial Services’ lending arm continued to scale up rapidly, with the NBFC’s assets under management rising 4.5 times year-on-year and 29 percent sequentially to Rs 19,049 crore. Gross disbursements during the quarter stood at Rs 8,615 crore, nearly doubling on-year. Net interest income from the lending business rose 166 percent year-on-year to Rs 165 crore, while pre-provisioning operating profit surged 130 percent to Rs 99 crore.

The payments ecosystem also saw strong traction. Transaction processing volume at Jio Payment Solutions climbed 2.6 times year-on-year to Rs 16,315 crore, while gross fee and commission income jumped 4.6 times to Rs 96 crore, with the company maintaining a consistent unit-level gross margin of about 10 basis points.

At Jio Payments Bank, total income grew 10-fold to Rs 61 crore, supported by a sharp rise in transaction throughput. Deposits stood at Rs 507 crore as of December 31, up 94 percent on-year, while the customer base expanded to 3.2 million.

The asset management business, operated through the Jio-BlackRock joint venture, reported assets under management of Rs 14,972 crore across 10 funds, with a retail investor base of one million. The company said a significant portion of inflows came from beyond the top 30 cities, with a growing share of first-time mutual fund investors.

Jio Financial Services said its diversified portfolio now includes businesses in various stages of growth, ranging from scaled-up verticals such as lending, payments, asset management and insurance broking to incubation-stage ventures including wealth management, securities broking and reinsurance, with continued investments aimed at building long-term platforms.

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