Jio Financial Q1 results: Jio Financial Services on Monday announced its quarterly results for the June quarter. Jio Financial Services Limited recorded a decline of 5.81 percent in its consolidated profit in the current financial year 2024-25 (Q1 FY25) and stood at Rs 312.63 crore. Let us tell you that in the same period a year ago (Q1 FY24), the profit was Rs 331.92 crore. At the same time, the company’s revenue increased by 0.89 percent to Rs 417.82 crore in Q1 FY25, which was Rs 414.13 crore in the same period last year.
what are the details
Along with the quarterly results, Jio Financial has also announced that it has started leasing AirFiber equipment in June 2024. Let us tell you that recently Jio Financial had said that it has received approval from the Reserve Bank of India (RBI) to convert from Non-Banking Financial Company (NBFC) to Core Investment Company (CIC).
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Status of company’s shares
Earlier in the day, Jio Financial closed at Rs 355.05, up 1.40 per cent. At this price, the stock is down 2.16 per cent in the last one month. The stock is up 52% so far this year YTD and 34% in the last six months. Let us tell you that market experts are recommending to bet on this stock. “The stock can reach the target price of Rs 380 in the short term. Keep stop loss at Rs 345,” said Ravi Singh, senior vice president (retail research), Religare Broking.
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The company had announced Jio Finance App
Let us tell you that financial services company Jio Financial Services had recently announced the launch of the experimental version of ‘Jio Finance App’. The objective of this initiative is to make finance related products available on a single platform for every section of people and make financial services more transparent, affordable and convenient.
