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    Jio Financial

    JIOFINGood
    Financial Services·18 Oct 2024
    Management Summary

    Q2 FY25 was boosted by Rs 241 crore dividend from RIIHL and Rs 225 crore share of associate profits (RSHL dividend). Underlying business showed early traction with NBFC loan book at Rs 1,206 crores and Payments Bank crossing 1.5 million customers. JioBlackRock JVs received in-principle approval. JioFinance app integrated with MyJio to leverage 500 million+ customer base.

    Highlights

    8

    • Consolidated total income Rs 694 crores (incl Rs 241 cr RIIHL dividend); PAT Rs 689 crores

    • NBFC (JFL) loan book at Rs 1,206 crores as of September 2024

    • Consolidated net worth Rs 1,37,144 crores; H1 FY25 income Rs 1,112 crores, PAT Rs 1,002 crores

    • JioFinance app launched in Q1, integrated with MyJio in Q2 FY25

    • Payments Bank CASA customers reached 1.5 million; BC network expanding

    • Insurance broking: products across health, auto, two-wheeler, life insurance

    • BlackRock AMC and Wealth JVs received in-principle SEBI approval in September 2024

    • Jio Leasing Services established; home loans in sandbox testing

    Key financials

    Single quarter

    09 metrics
    1. 01Consolidated Total Income₹694 Cr+14.1%YoY
    2. 02Consolidated PAT₹689 Cr+120%QoQ
    3. 03NBFC Loan Book₹1,206 Cr
    4. 04Interest Income₹205 Cr
    5. 05Dividend Income₹241 Cr

    Segment breakdown

    NBFC (JFL)
    ₹1,206 Cr Loan Book
    Payments Bank
    15,00,000 number Customers
    Treasury/Investments
    ₹207 Cr Treasury Income₹241 Cr Dividend
    List

    Risks & concerns

    6
    RiskSeverity

    PAT boosted by one-time items (Rs 241 cr dividend, Rs 225 cr associate share)

    Underlying operational PAT much lower than reported Rs 689 crores. — Both acknowledged

    medium

    NBFC loan book small at Rs 1,206 cr relative to Rs 1.37 lakh cr net worth

    Capital deployment in core lending business remains negligible. — Both acknowledged

    medium

    No Q&A limits transparency

    Presentation-only format. — Analyst not addressed

    medium

    Areas of Evasion(3)

    • No Q&A
    • No lending yields
    • No asset quality data

    Q&A highlights

    3

    “All participants will be in a listen-only mode.”

    No analyst Q&A.

    1 min read3 chapters

    Detailed Narrative

    01

    NBFC Building Loan Book

    JFL loan book reached Rs 1,206 crores with products including LAMF (live), home loans (sandbox), LAP, and corporate lending. Distribution via JioFinance app and ecosystem. Leveraging data analytics for customer targeting.

    02

    Platform and Distribution Milestones

    JioFinance app launched Q1, integrated with MyJio Q2 reaching 500M+ customer base. Payments Bank crossed 1.5M CASA customers. Insurance broking live across health, auto, life categories. BlackRock JVs received in-principle approval.

    03

    Financial Profile Still Treasury-Dominated

    Of Rs 694 cr income, Rs 241 cr was RIIHL dividend and Rs 207 cr MF fair value gains. Core business fees Rs 41 cr and lending interest income minimal. Expenses rising to Rs 146 cr as business scales. PAT of Rs 689 cr heavily flattered by one-time📎 items.

    This is an AI-generated summary of a publicly available earnings call transcript. It is for informational purposes only and does not constitute investment advice, a recommendation, or an endorsement. inve.money is not a SEBI-registered investment advisor. Please consult a qualified financial advisor before making any investment decisions.