Jio Financial Services is the demerged arm of Reliance Industries Ltd. It is a holding company, which is operating financial services business through consumer-facing subsidiaries.
For the July-September period, Jio Financial Services had reported a net profit of Rs 668 crore, a jump of 101 percent sequentially. Total revenue from operations increased 47 percent to Rs 608.04 crore on a quarter-on-quarter basis
JFS stock price: Sebi's latest processing status report on MF applications suggested that the application by JFS and BlackRock Financial Management dated October 19, 2023 was under consideration of getting an in-principle approval.
KR Choksey believes that the focus on the consumer lending segment and the wide customer base of Reliance Jio and Reliance Retail will drive Jio Financial Services growth.