Jio Financial Services Q2 FY26 income zooms 44% to ₹1,002 cr, profit rises to ₹695 cr

Reliance Industries-led financial services company Jio Financial Services reported robust business growth and strong execution momentum in the second quarter of financial year 2025-26, as consolidated total income grew to ₹1,002 crore, up 44% YoY, while net income from business grew 5x YoY to ₹317 crore.

The company's net income from business grew 52% of consolidated net total income (ex-dividend), up from 14% in Q2 FY25. The NBFC's assets under management (AUM) stood at Rs. 14,712 crore, up from ₹1,206 crore in Q2 FY25. While the company's pre-provisioning operating profit came in at ₹579 crore, compared to ₹ 552 crore in Q2 FY25, its Q2 FY26 profit after tax was ₹695 crore, a marginal increase from ₹689 crore in Q2 FY25.

The company said that, pursuant to Jio Payments Bank Limited (JPBL) becoming a wholly-owned subsidiary of the company, following the acquisition of State Bank of India’s (SBI) remaining shareholding in June 2025, its financials are now fully consolidated with those of JFSL. Q2 FY26 was the first full quarter of this consolidation. In Q2 FY25, JPBL was accounted for as a JV, and its P&L was reflected as a part of the share of associates and JVs in JFSL’s consolidated financial statement, the company said.

"Our expanding user base is a validation of the enthusiasm with which our offerings have been met in the market. As we design financial services of the future for all Indians, we are actively leveraging next-gen AI and analytics to position JioFinance as a trusted, intelligent, and simplified digital platform that delivers personalised, fit-for-purpose products to each customer. The results of these efforts would become more pronounced over the coming quarters," said Hitesh Sethia, Managing Director and CEO, JFSL.

The company informed Q2 FY26 saw the company accelerate new product launches and further expand its omni-channel distribution network. "In just 16 months since the launch of the JioFinance app, JFSL now has around 18 million unique users across all the digital platforms of its franchise," the company said.

Among its various units, JFS says Jio Credit Limited (JCL), the NBFC arm, reported a 12x YoY growth in its AUM during the quarter, with broad-based traction across its diverse secured lending solutions spanning retail and corporate finance. The NBFC expanded its physical footprint to cover 14 cities through 15 offices.

During Q2, JPBL launched an industry-first product, Savings Pro, which allows customers to auto-invest their idle surplus liquidity into overnight mutual funds for higher returns. It also entered the toll processing business as a FASTag-acquirer bank by securing the mandate for managing toll operations at 12 toll plazas across various National Highway stretches, of which 11 are already operational. "The payments bank’s network of business correspondents (BCs) grew to around 200,000 BCs in Q2 FY26, up from 2,307 in Q2 FY25. Its customer base stood at 2.95 million, and the deposit base was at ₹421 crore, both grew around 2x compared to Q2 FY25."

Additionally, the company says Jio Payment Solutions Limited (JPSL) saw its Transaction Processing Volume (TPV) rise significantly to ₹13,566 crore, up 167% YoY, even as it maintained a sharp focus on unit-level profitability. Powered by JPSL, a new tap and pay contactless card payment went live on the JioFinance app, in partnership with Mastercard. Currently launched in a closed user group, the commercial rollout of the service will happen subsequently, the company said.

Besides, Jio Insurance Broking facilitated ₹347 crore in premiums and issued 2.9 lakh policies during the quarter, across life, health and general insurance, the company said. It scaled up its Digital Point of Sales Person channel to over 100 cities across six states, enabling personalised advisory and service in diverse regional markets.

Jio BlackRock Asset Management Private Limited, a 50:50 JV between JFSL and BlackRock, launched six funds during the quarter. This included its maiden active equity fund, powered by BlackRock’s proprietary, AI-based Systematic Active Equity approach. The JioBlackRock Flexi Cap Fund attracted investments of around ₹1,500 crore through the New Fund Offer. In just under four months since launch, the asset management company has a client base of 150+ institutional and 635,000+ retail investors, which is rapidly growing.