Results reported 15 October 2026 | NBFC and diversified financials | Consolidated
The Quick Take
Jio Financial Services reported Q2 FY27 PAT of Rs 340 cr, down 51% year on year and 59% quarter on quarter. Income rose sharply, but finance costs, expenses and associate losses rose faster. Sources disagree on the income growth rate, so that figure is not used here.
Q2 FY27 snapshot (consolidated, Rs crore)
| Metric | Q2 FY27 | Comparison |
|---|---|---|
| Total income | 1,699 | Q2 FY26: 1,002 |
| PPOP | 574 | +85% YoY |
| PBT | 489 | |
| Net profit (PAT) | 340 | -51% YoY; Q1 FY27: 830 |
- Finance cost Rs 578 cr; provisions Rs 41 cr; share of associates’ loss Rs 44 cr.
- H1 FY27 total income Rs 3,195 cr; H1 PAT Rs 1,171 cr.
- Jio Credit: gross AUM Rs 37,320 cr (+154%); disbursements Rs 13,135 cr (+98%); PAT Rs 120 cr (+140%).
Initiatives
- Bank of America to acquire 49.9% of Jio Credit for about Rs 18,000 cr of growth capital, subject to approvals.
- Jio Payments Bank approvals for a 3-in-1 savings account.
- JioFinance+ and JioFinance360 launched; BlackRock fund approval in GIFT City.
- Allianz general insurance JV nearing approval.
Guidance
No quantitative guidance. Management stresses disciplined, quality-led growth and operating leverage.
Risks
- Regulatory approvals for the BofA deal and insurance JVs.
- Early-stage units and execution complexity.
- Draft IRDAI distribution rules; competition.
Setup
Neutral. Earnings fell year on year while lending and AMC scale expanded sharply.
This is educational analysis, not personalized investment advice. Do your own research before investing.
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