Jio Financial Services, Reliance Industries' newly listed subsidiary, on January 15 reported a net profit of Rs 293 crore for the December quarter of the current financial year, down from previous quarter's Rs 668 crore.
The company's net interest income was at Rs 269 crore for the quarter. Its total interest income was at Rs 414 crore and total revenue was at Rs 413 crore, the company said in its second quarterly earings after listing on bourses in August 2023.
Additionally, the company also said that it has made two new appointments in the senior management.
"Board of Directors, on the recommendation of the Nomination and Remuneration Committee and Audit Committee, approved the appointment of Rupali Adhikari Sawant as Group Head - Internal Audit of the Company with effect from January 15, 2024 and Sudheer Reddy Govula as Group Chief Compliance Officer of the Company in accordance with RBI Circular on Compliance Function and Role of Chief Compliance Officer, for a period of four years with effect from January 15, 2024," the company said in an exchange notification.
Earlier, on January 4, Jio Financial Services with BlackRock Financial Management filed papers with the capital market regulator, the Securities and Exchange Board of India (SEBI), to launch mutual fund business in India.
The in-principle approval is under consideration with SEBI, as the companies as a joint venture had filed application on October 19, 2023, showed the updated list of the mutual fund applications as on December 31, 2023.
Shares of Jio Financial Services closed for trading on BSE at Rs 266.80 apiece, up by 4.55 percent.
Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary
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