Jio Financial Services Limited (JFSL), a leading Core Investment Company (CIC) registered with the Reserve Bank of India, announced its audited consolidated financial results for the fourth quarter (Q4 FY25) and the full financial year ended March 31, 2025. The company showcased robust growth, with its Assets under Management (AUM) surpassing ₹10,000 crore and significant year-on-year (YoY) and quarter-on-quarter (QoQ) improvements in key financial metrics.
Consolidated Financial Highlights for FY25
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Assets under Management (AUM): JFSL’s NBFC subsidiary, Jio Finance Ltd., reported an AUM of ₹10,053 crore as of March 31, 2025, a remarkable increase from ₹173 crore on March 31, 2024, and ₹4,199 crore on December 31, 2024, reflecting a 5708% YoY growth and a 139% QoQ surge.
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Total Income: Total income for FY25 reached ₹2,079 crore, up 12% YoY from ₹1,885 crore in FY24. For Q4 FY25, total income stood at ₹518 crore, a 24% YoY increase from ₹418 crore in Q4 FY24 and a 15% QoQ rise from ₹449 crore in Q3 FY25.
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Pre-Provision Operating Profit (PPoP): PPoP for FY25 was ₹1,594 crore, compared to ₹1,527 crore in FY24, marking a 4% YoY growth. For Q4 FY25, PPoP was ₹374 crore, up 18% YoY from ₹317 crore in Q4 FY24 and 18% QoQ from ₹318 crore in Q3 FY25.
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Profit After Tax (PAT): PAT for FY25 stood at ₹1,613 crore, a marginal increase from ₹1,605 crore in FY24. For Q4 FY25, PAT was ₹316 crore, slightly down 1% YoY from ₹320 crore in Q4 FY24 but up 7% QoQ from ₹295 crore in Q3 FY25.
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Revenue from Operations: Revenue from operations for FY25 was ₹2,043 crore, up 8% YoY from ₹1,884 crore in FY24. In Q4 FY25, it reached ₹453 crore, a 8% YoY increase from ₹418 crore in Q4 FY24 and a 3% QoQ rise from ₹438 crore in Q3 FY25.
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Dividend: The Board recommended a dividend of ₹0.50 per equity share of ₹10 face value, subject to shareholder approval at the Annual General Meeting.
Key Operational Achievements
JFSL made significant strides in FY25, focusing on its four core customer needs: borrowing, investing, transacting, and protecting. The company launched diverse offerings, including loans, digital gold, investment trackers, spend analyzers, savings accounts, and insurance products. The JioFinance app, a unified digital platform, gained traction with 8 million monthly active users (MAU) in March 2025. Integration with the MyJio app in September 2024 further strengthened its digital distribution ecosystem.
The company expanded its physical presence, with Jio Finance Limited establishing operations in 10 Tier-1 cities and Jio Payments Bank Limited growing its Business Correspondent network to over 14,000, a six-fold increase from FY24. JFSL also introduced JioSoundPay, an industry-first UPI payment audio alert feature on JioBharat feature phones, enhancing merchant security and convenience.
Financial Position
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Total Assets: As of March 31, 2025, consolidated total assets stood at ₹133,510 crore, down 8% from ₹144,863 crore on March 31, 2024, primarily due to a reduction in investments from ₹133,292 crore to ₹118,910 crore.
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Loans: Loans surged to ₹10,053 crore from ₹173 crore YoY, reflecting JFSL’s aggressive lending expansion.
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Equity Infusion: JFSL infused ₹1,346 crore in group entities, including Jio Finance Limited, Jio Payments Bank Limited, and joint ventures with BlackRock, to support growth.
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Borrowings: Borrowings (other than debt securities) stood at ₹2,981 crore, and debt securities were ₹983 crore, compared to nil in FY24, indicating increased leverage to fuel expansion.
Strategic Developments
JFSL strengthened its partnership with BlackRock, receiving SEBI’s in-principle approval on October 3, 2024, to co-sponsor a mutual fund. Joint ventures, including Jio BlackRock Asset Management Private Limited and Jio BlackRock Trustee Private Limited, were incorporated on October 28, 2024, with investments of ₹141 crore and ₹0.40 crore, respectively. Additionally, a 50:50 joint venture with BlackRock for wealth management, Jio BlackRock Investment Advisers Private Limited, was established on September 6, 2024, with each partner investing ₹18 crore.
The company also moved to acquire 7.91 crore equity shares of Jio Payments Bank Limited from the State Bank of India for ₹104.54 crore, pending RBI approval. This acquisition will make Jio Payments Bank a wholly-owned subsidiary, enhancing JFSL’s control over its banking operations.
Management Commentary
Hitesh Sethia, Managing Director and CEO of JFSL, stated, “In FY25, we leveraged our strong foundation to drive exceptional execution and significant operational growth across businesses in a risk-calibrated manner. The year was defined by swift product launches, strengthened distribution, and rapid growth in the JioFinance app’s user base. In FY26, we aim to leverage our integrated data infrastructure and AI-driven analytics to deliver tailored products, aspiring to become a leading financial services player in India.”
Outlook
JFSL’s FY25 performance underscores its rapid growth trajectory, driven by digital innovation, strategic partnerships, and an expanding product portfolio. The significant AUM growth, coupled with a robust digital and physical distribution network. The company’s focus on AI-driven analytics and data infrastructure is expected to enhance customer targeting and operational efficiency, supporting its long-term goal of achieving a meaningful market share in India’s financial services sector.