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News Topical, Digital Desk : Jio Financial Services announced its quarterly results on Thursday. In a filing to the exchange, the company stated that its revenue saw a strong increase in the quarter ended December. However, its profits declined year-over-year. Consolidated profit fell from ₹295 crore to ₹269 crore.
Jio Financial Services reported a strong jump in consolidated revenue. Jio Financial's total revenue increased from ₹438 crore to ₹901 crore in Q3, a growth of approximately 105.7% year-on-year. Interest income also increased from ₹210 crore to ₹504 crore, while net interest income (NII) increased from ₹210 crore to ₹292 crore.
Stock Performance The company's stock closed at ₹287.30 on Wednesday, up 0.95%. Over the past year, the company's stock has gained 5.47%.
Read More: Mutual Fund giving 18.47% return in 5 years, is now the right time to invest?
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