THEBUSINESSBYTES BUREAU

MUMBAI, JANUARY 15, 2026

Jio Financial Services Limited (JFSL) delivered a robust performance in the third quarter of FY26, reporting a sharp acceleration in income growth as its diversified financial services portfolio continued to scale up rapidly. The company’s consolidated total income more than doubled year-on-year to Rs. 901 crore for the quarter ended December 31, 2025, reflecting a 101 per cent increase over the same period last year, while pre-provisioning operating profit rose 7 per cent year-on-year to Rs. 354 crore.

The Board of Directors approved the unaudited financial results at a meeting held in Mumbai on Thursday, underscoring the steady progress JFSL is making in building a comprehensive, technology-led financial services platform. Profit after tax for the quarter stood at Rs. 269 crore, even as the company continued to invest aggressively in scaling its businesses and expanding its distribution footprint. The share of associates and joint ventures was recorded at Rs. 36 crore, compared with Rs. 59 crore in Q3 FY25, largely reflecting ongoing investments in asset management and wealth management aimed at long-term growth and scale.

A key highlight of the quarter was the rising contribution of core operating businesses to overall earnings. The share of net income from business operations grew to 55 per cent of consolidated total net income in Q3 FY26, up sharply from 20 per cent a year earlier, indicating a clear shift towards sustainable, operating-led profitability. Growth in total income was partly offset by higher expenses, in line with increased volumes across businesses, as JFSL focused on building capacity for future expansion.

Operationally, the company reported strong traction across all major verticals. The NBFC arm recorded assets under management of Rs. 19,049 crore, marking a 4.5-times jump year-on-year and a 29 per cent sequential increase. The asset management business ended the quarter with AUM of Rs. 14,972 crore across 10 funds and a retail investor base of one million. Payment Solutions processed transactions worth Rs. 16,315 crore during the quarter, up 2.6 times year-on-year, while the Payments Bank’s deposits surged 94 per cent year-on-year to Rs. 507 crore.

JFSL’s diversified business mix, spanning NBFC, Payments Bank, Payment Solutions, Insurance Broking and Asset Management, alongside incubation-stage ventures such as Wealth Management, Securities Broking, Reinsurance and proposed life and general insurance, continued to underpin its growth strategy. While growth-stage entities scaled up rapidly during the quarter, treasury operations provided a strong capital cushion to support investments in early-stage businesses.

Jio Credit Limited posted gross disbursements of Rs. 8,615 crore, nearly doubling year-on-year and rising 30 per cent sequentially. Net interest income climbed 166 per cent year-on-year to Rs. 165 crore, supported by growth in interest-earning assets and a declining cost of funds, while pre-provisioning operating profit rose 130 per cent year-on-year to Rs. 99 crore.

Jio Payments Bank reported a tenfold year-on-year increase in total income to Rs. 61 crore, driven by a sharp rise in transaction throughput. Deposits grew to Rs. 507 crore, while the customer base expanded 69 per cent year-on-year to 3.20 million. The bank’s business correspondent network also saw a dramatic expansion, reaching 2,86,766 BCs by the end of the quarter.

Jio Payment Solutions continued its growth trajectory with transaction processing volume rising 2.6 times year-on-year and gross fee and commission income jumping 4.6 times to Rs. 96 crore, even as it maintained a sharp focus on unit-level profitability. Jio Insurance Broking facilitated premiums worth Rs. 212 crore during the quarter, with its digital PoSP channel recording a nearly fivefold sequential increase.

The Jio BlackRock joint ventures reported encouraging investor participation, with over half of investors running active SIPs, more than 40 per cent of retail AUM coming from B30 cities, and nearly one-fifth of investors being first-time mutual fund participants. The Active Equity Flexi Cap Fund saw its AUM rise over 70 per cent since launch, while curated model portfolios were introduced to help customers meet diverse financial goals.

Driving customer engagement across the ecosystem is the JioFinance app, which serves as JFSL’s unified digital storefront. During the quarter, the company recorded 20 million unique users across its digital properties, with an average monthly active user base of 9.2 million, reflecting strong adoption, stickiness and relevance of its digital-first offerings.

Commenting on the results, Hitesh Sethia, Managing Director and CEO of Jio Financial Services Limited, said the company is witnessing a secular uptrend in business momentum across all operating verticals, which has now gathered significant pace. He added that continued investments in new businesses are positioning them for long-term success, and as JFSL builds greater depth, capability and market presence, it is well placed to shape the next phase of financial services in India through intelligence-driven, hyper-personalised and highly accessible solutions powered by technology and data analytics.