The bottom line took a bigger 61% hit on a sequential basis from INR 695 Cr
Operating revenue for the quarter under review stood at INR 900.9 Cr, up over 105% YoY but down 8% QoQ
Expenses surged 332% YoY and 30% QoQ to INR 565.9 Cr, driven mostly by a significant increase in finance cost
Fintech major Jio Financial Services’ (JFS) net profit for the quarter ended December 31, 2025 (Q3 FY26) declined 9% to INR 269 Cr from INR 294.8 Cr in the year-ago period, as finance cost shot up. The bottom line took a bigger 61% hit on a sequential basis from INR 695 Cr.
Operating revenue for the quarter under review stood at INR 900.9 Cr, up over 105% from INR 438.4 Cr in the year-ago period. Sequentially, it declined 8% from INR 981.4 Cr.
Including other income of INR 15 Lakh, total income for the period stood at INR 901.1 Cr. The company noted that the growth in total income was partially offset by higher expenses, in line with growth in volume across all businesses.
Meanwhile, expenses surged 332% YoY and 30% QoQ to INR 565.9 Cr. The major contributor in this was finance costs, which jumped to INR 212.4 Cr. This cost didn’t exist in the year-ago quarter. Sequentially, finance cost surged over 56% from INR 135.8 Cr.
Although the company’s bottom line was impacted in the quarter, its business segments grew at a steady speed, the company’s managing director and CEO Hitesh Sethia said.
“We are witnessing a secular trend in business momentum across all our operating verticals, which has now gained significant velocity. At the same time, we continue to invest for growth across new businesses, positioning them for long-term success,” he noted.
Here’s a breakdown of the performance of the company’s verticals during the quarter:
Jio Credit
The company’s NBFC arm’s gross disbursement zoomed 100% YoY to INR 8,615 Cr, leading to a 266% YoY jump in its net interest income to INR 165 Cr. Net profit for the vertical also climbed 157% YoY to INR 59 Cr.
Jio Credit’s AUM for the quarter grew 4.5X YoY to INR 19,049 Cr, justifying the sharp growth in its finance cost. Borrowing costs surged to INR 16,192 Cr from INR 1,350 Cr in the year-ago period.
Jio Payments Bank
The bank, which recently became a wholly owned subsidiary of the company, reported a 10X YoY and 100% QoQ jump in total income to INR 61 Cr. The uptick came on the back of the company signing mandates to sign two additional multi-lane free flow (MLFF) plazas in Gujarat and Tamil Nadu, improvement in transaction throughput by up to 3X QoQ and a near 20% QoQ jump in its deposits to INR 507 Cr.
The company’s investment and insurance verticals continued to gain steady momentum during the quarter. While JioBlackRock Asset Management saw its AUM grow to INR 14,972 Cr across 10 funds, Jio Insurance Broking Ltd scaled D2C offerings across motor, health and life with 73 plans. However, key regulatory approvals for the insurance arm are still awaited.
Shares of JFS ended today’s trading session 0.83% higher at INR 286.95 on the BSE.
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