Jio Financial Services Q4 FY2024: Net Profit Up by 5.72%

Key Highlights

• Jio Financial Service reported a 1.09% increase in its revenue on a quarterly basis reaching Rs 418 cr from Rs. 414 cr.
• PAT marked at Rs. 311 cr for Q4 FY2024, almost 6% up on a QoQ basis.
• EBIT margin and PAT margin up by 1.68% and 3.26% on a QoQ basis.

Business Highlights

• The company’s total revenue for the Financial Year ending March 2024 was Rs. 1 854.68 cr against Rs. 44.84 cr a year ago for the same period.
• PAT for FY2024 was marked at Rs. 1604.55 cr. it was Rs. 31.25 cr for FY2023.
• Jio Financial Services witnessed a 6.52% increase on a QoQ basis for Earnings per share.
• Operating cash flow for FY2024 was reported at a negative Rs. 677.57 cr against Rs. 2,054.90 cr in FY 2023.
• The company reported an increase in cash and cash equivalent for FY2024 at Rs. 10.61 cr, which was a negative Rs. 0.34 cr in FY2023.
• Jio Financial has entered into a 50:50 JV with BlackRock, Inc. to form an asset management company and transform the investment journey for Indian investors.