Non-banking financial institution (NBFC) Jio Financial Services released their Q3FY24 results on Monday. The Reliance Industries-backed company recorded 56% decline in their quarter-on-quarter (QoQ) net profits which came down from ₹668.18 crore in Q2FY24 to ₹293.82 crore during the period under review. The quarterly revenue of Jio Financial Services slumped 32% from ₹608.04 crore during the quarter ending September 2023 to ₹413.61 crore during Q3FY24.
In the nine-month period ending December 2023, Jio Financial Services witnessed a significant jump in financial performance as compared to the fiscal year ending March 2023. The net profit of the company during the nine-month period jumped from ₹32.25 crore to ₹1,293.92 crore. In terms of revenue, the Jio Financial Services witnessed a remarkable jump from ₹41.63 crore revenue during the year ending March 2023 to ₹1,435.78 crore in December 2023.
This is a developing story, will be updated with more inputs
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates & Live Business News.
Published: 15 Jan 2024, 06:47 PM IST