Jio Financial set to launch suite of loan products in billionaire Ambani's finance push
India's Jio Financial Services (JFS) plans to launch auto, home loans and other products, as the billionaire Mukesh Ambani-backed company seeks to establish itself as a full-service financial services firm in a rapidly growing market
Jio Financial set to launch suite of loan products in billionaire Mukesh Ambani's finance push
Despite strong growth, penetration of financial investment products in India is low relative to the size of the economy. Ambani is looking to tap into this market after similar disruptive forays into the telecom and retail sectors.
Q2FY24 Quarterly & H1FY24 Bi-Annual Result Announced for Jio Financial Services Ltd.
Non-banking Financial company Jio Financial Services announced Q2FY24 & H1FY24 results: Financial Highlights: - Consolidated PAT increased by 101% in H1FY24, reaching Rs 668 crore in Q2FY24 compared to Rs 332 crore in Q1FY24. - Consolidated Total assets stood at Rs 1,19,598 crore on Sept. 30, 2023. - Consolidated net worth increased to Rs 1,15,631 crore on Sept. 30, 2023, from Rs 1,14,120 crore on March 31, 2023. - Standalone Profit after tax was Rs 89 crore in Q2FY24, down from Rs 145 crore in Q1FY24. - Standalone net worth stood at Rs 24,288 crore on Sept. 30, 2023. Business Overview: - Indian financial landscape is poised for growth with a large working population and increasing adoption of digital financial services. - Jio Financial Services offers a holistic suite of financial services including lending, insurance broking, payments bank, and payment solutions. - The company aims to democratize financial services and provide access to simple, affordable, innovative, and intuitive products and services. - Technology will be a key growth differentiator, enabling cost efficiencies, enhanced customer experience, and leveraging alternate data. Products and Services: - Jio Financial Services offers a range of lending products including personal loans, consumer durable loans, and upcoming products like business and merchant loans, auto loans, home loans, and loans against shares. - The company also provides insurance broking services with partnerships with 24 insurance companies offering various types of insurance products. - Jio Payments Bank offers savings account services with an end-to-end digital journey and plans to launch debit cards. - Jio Payment Solutions offers Sound Box, a payment solution, and actively enriches customer engagement. Alternate Data and Risk Management: - Jio Financial Services utilizes alternate data models within the guidelines of the Digital Personal Data Protection Act to assess and profile customers for tailored offerings. - The company uses AI-driven risk management and credit underwriting to efficiently monitor potential risks. - Efficient risk management, credit underwriting, and collections lead to lower credit costs. Inherent Strengths: - Jio Financial Services has a strong capital base to fund its growth strategy and meet regulatory requirements. - The company has an experienced leadership team and a well-established brand presence. - Its extensive physical network facilitates easy customer access. Result PDF Jio Financial Services Ltd - 543940 - Audio/Video Recording Of Presentation On Unaudited Financial Results (Consolidated And Standalone) For The Quarter And Half-Year Ended September 30, 2023
Audio/Video Recording of Presentation on Unaudited Financial Results (Consolidated and Standalone) for the quarter and half-year ended September 30, 2023 Jio Financial Services Ltd - 543940 - Announcement under Regulation 30 (LODR)-Investor Presentation
Presentation made to analysts on Unaudited Financial Results (Consolidated and Standalone) for the quarter and half-year ended September 30, 2023 Jio Financial Services Ltd - 543940 - Announcement under Regulation 30 (LODR)-Change in Management
The Board of Directors approved the appointment of Shri AR Ganesh as Group Chief Technology Officer forming part of Senior Management Personnel ("SMP") of the Company with effect from October 16, 2023 on the recommendation of Nomination and Remuneration Committee. Jio Financial Services Ltd - 543940 - Board Meeting Outcome for Outcome Of Board Meeting
In continuation of our intimation dated October 6, 2023 and pursuant to Regulation 30 and other applicable regulations of the LODR, we wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e. October 16, 2023, inter alia, approved the Unaudited Financial Results (Consolidated and Standalone) for the quarter and half year ended September 30, 2023. The Board of Directors also approved the appointment of Shri AR Ganesh as Group Chief Technology Officer forming part of Senior Management Personnel (SMP) of the Company w.e.f. October 16, 2023 on the recommendation of Nomination and Remuneration Committee. Jio Financial Services Ltd - 543940 - Results - Financial Results For Quarter And Half Year Ended September 30, 2023
Consolidated and Standalone unaudited financial results for the quarter and half year ended September 30, 2023
Jio Financial Services Share Price Live blog for 12 Oct 2023
Jio Financial Services stock price went up today, 12 Oct 2023, by 2.29 %. The stock closed at 220.2 per share. The stock is currently trading at 225.25 per share. Investors should monitor Jio Financial Services stock price closely in the coming days and weeks to see how it reacts to the news. Jio Financial Services Ltd - 543940 - Board Meeting Intimation for Considering And Approving The Standalone And Consolidated Unaudited Financial Results Of The Company For The Quarter And Half-Year Ended September 30, 2023.
Jio Financial Services Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 16/10/2023 ,inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter and half-year ended September 30, 2023.