Jio Financial Services reported a 9% year-on-year decline in consolidated net profit to ₹269 crore for the third quarter ended December 31, 2025, even as total income nearly doubled during the period.
The company had posted a consolidated net profit of ₹295 crore in Q3 FY25, according to a regulatory filing. Sequentially, profit declined sharply from ₹695 crore reported in Q2 FY26.
Total Income Nearly Doubles YoY
During the quarter, total income surged to ₹901 crore, up from ₹449 crore in the year-ago period, reflecting scale up across its financing, payments, and allied financial services businesses.
However, the strong top line growth was partially offset by a sharp rise in operating costs.
Expenses Rise in Line With Business Expansion
Total expenses jumped significantly to ₹566 crore, compared with ₹131 crore in Q3 FY25, driven by higher volumes across businesses and expansion-related costs.
Despite this, pre-provisioning operating profit (PPOP) rose 7% year-on-year to ₹354 crore, indicating improving operating momentum before provisioning and other charges.
The company said the increase in expenses was aligned with growth across all its operating segments.
Nine-Month Profit Remains Largely Flat
For the nine months ended December 2025, Jio Financial Services reported a marginal decline in net profit to ₹1,289 crore, compared with ₹1,296 crore in the corresponding period last year.
Business Overview and Strategic Moves
Jio Financial Services, which was carved out of Reliance Industries, operates across lending and investments, insurance broking, payments banking, payment aggregation, and payment gateway services.
During the year, the company entered the asset management space through its joint venture with BlackRock. The JV recently launched curated model portfolios under the JioBlackRock mutual fund brand, aimed at helping customers meet diverse financial goals.
Outlook
While profitability moderated in Q3 amid rising costs, Jio Financial Services’ rapid income growth and expanding product portfolio highlight its long-term ambitions across India’s financial services ecosystem. Investors will closely watch margin stabilisation and cost efficiency as the company scales its asset management and payments businesses.
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