Jio Financial Services Net Profit Surges 156% in Q1 FY27

Jio Financial Services reported a consolidated net profit of approximately Rs 830 crore for the first quarter ended June 30, 2026, marking a year-on-year increase of 155% to 156%. Revenue from operations more than tripled, surging 227% to Rs 2,004 crore. This growth was primarily driven by its NBFC arm, Jio Credit, which saw gross assets under management rise 163% to Rs 30,667 crore, and quarterly disbursements exceeding Rs 11,000 crore.

The company expanded its strategic footprint through joint ventures, with JioBlackRock reporting closing AUM of Rs 18,412 crore and the launch of Jio Allianz General Insurance Ltd, a 50:50 partnership with Allianz SE. Meanwhile, Jio Payments Bank saw customer deposits grow 72% to Rs 617 crore. Managing Director and CEO Hitesh Sethia attributed these efficiency gains to the integration of AI and data analytics, noting that payment units have transitioned beyond the investment phase to achieve positive unit economics.

In a separate development, Reliance Industries media arm JioStar reported a 14% year-on-year revenue increase to Rs 10,946 crore for the same period. The company's profit after tax rose 14.5% to Rs 665 crore, bolstered by the IPL 2026 season and record active users on JioHotstar. CEO of Digital and Sports Ishan Chatterjee announced the launch of Tadka, an in-house micro-content platform and an AI media studio to enhance digital entertainment capabilities.