Jio Financial Services Ltd.Income ex-dividend +132%, Jio Credit AUM +154%

Jio Financial Services reported Q2 FY27 consolidated income excluding dividend of ₹1,699 crore, up 132% year-on-year, and pre-provisioning operating profit of ₹574 crore, up 85%.

Profit before tax excluding dividend rose 51% to ₹489 crore, while reported profit after tax was ₹340 crore against ₹695 crore a year ago because the Reliance dividend was received in Q1 this year. Jio Credit's assets under management rose 154% to ₹37,320 crore on record disbursements of ₹13,135 crore, with the cost of borrowing steady at 7.08% and capital adequacy at 18.50%. Bank of America agreed to acquire a 49.9% stake in Jio Credit, bringing about ₹18,000 crore of growth capital, subject to approvals.

JioBlackRock's AMC assets reached ₹22,746 crore, payments bank deposits rose 53% to ₹643 crore, and the JioFinance app has 3.2 crore users with new JioFinance+ and JioFinance360 features. The call was a prepared presentation with no analyst questions, and management gave no numeric profit or growth targets.