Jio Financial Services Q3 Results: Consolidated PAT slumps 56% QoQ to Rs 294 crore, revenue drops 32%
Jio Financial Services on Monday reported a 56% sequential fall in consolidated net profit for the quarter ended December 2023 to Rs 294 crore.
Consolidated revenue from operations fell nearly 32% from the previous quarter to Rs 413.61 crore.
Total expenses for the December quarter were Rs 98.95 crore compared with Rs 71.43 crore in the September quarter.
The total tax outgo for the quarter was Rs 88 crore compared to Rs 86.3 crore in the preceding quarter.
The consolidated earnings of Jio Financial include that of its subsidiaries, associates, and joint ventures.
These are Jio Finance, Jio Payment Solutions, Reliance Industrial Investments and Holdings, Jio Insurance Broking, Jio Infrastructure Management Services, Jio Information Aggregator Services, Reliance Services and Holdings, Petroleum Trust, and JV firm Jio Payments Bank.
During the board meeting, the company’s board also approved the appointment of Rupali Adhikari Sawant as Group Head — Internal Audit with effect from January 15.
The board has also approved the appointment of Sudheer Reddy Govula as Group Chief Compliance Officer of the company for four years from January 15.
For the nine months ended December, the Mukesh Ambani-led company reported a profit of Rs 1,294 crore and a revenue of Rs 1,436 crore.
