Jio Financial

Jio Financial Services experienced accelerated momentum across its portfolio in Q3 FY26, demonstrating inherent strength for sustainable growth. The company reported a Consolidated Total Income of approximately ₹900 crore, doubling year-on-year, and a Pre-Provisioning Operating Profit (excluding dividend income) of ₹354 crore. Net Income from Business Operations surged to ₹386 crore, marking a 320% YoY and 22% sequential increase, and now represents 55% of Consolidated Total Net Income, indicating an inflection point where core operations drive financial performance.

The lending subsidiary, Jio Credit, achieved significant scale with Assets Under Management (AUM) reaching over ₹19,000 crore, a 4.5x year-on-year growth and 29% quarter-on-quarter increase. Gross disbursements for the quarter stood at over ₹8,600 crore, doubling Q3 FY25 figures and growing 30% sequentially. Net Interest Income for Jio Credit was ₹165 crore, up 166% YoY and 18% QoQ, benefiting from a declining average cost of borrowing to 6.99% from 7.06% in the preceding quarter. The company's Capital Adequacy Ratio remained robust at 24.39%.

Jio Payments Bank demonstrated strong growth, with its deposit base crossing ₹500 crore, a 94% year-on-year increase and 20% sequential growth. The customer base expanded to 3.2 million, up 69% YoY and 9% QoQ. Total income for the bank reached ₹61 crore, a significant 10x YoY growth and doubling sequentially. The Business Correspondent (BC) network expanded to approximately 287,000 touchpoints, representing a 44% sequential growth and a massive leap from 7,200 a year ago, positioning the bank for accelerated profitability.

Jio Payment Solutions continued to deliver comprehensive omnichannel payment solutions, with Transaction Processing Volume (TPV) reaching ₹16,315 crore, a robust 156% year-on-year increase and 20% sequential growth. Gross Fees and Commission Income rose to ₹96 crore, up 26% QoQ, with net processing margin expanding to 10 basis points. The company onboarded new clients across high-growth sectors and introduced technology-first solutions like Instant Settlements and Enterprise Dashboard for merchants.

The joint venture with BlackRock, JioBlackRock Asset Management, achieved an AUM of close to ₹15,000 crore as of December 31, 2025, across 10 funds. The company reached over a million retail customers, with first-time mutual fund investors increasing to 18% of the total investor base, up from 10% a quarter back. Over 40% of retail AUM originated from beyond the top 30 cities, reflecting broad-based trust. Regulatory approval was secured for four new funds, and the Sector Rotation Fund is slated for a short-term launch.

Jio Insurance Broking facilitated premiums of ₹212 crore in Q3 FY26, representing a 22.5% year-on-year growth, though experiencing a sequential decline due to a high base effect in Q2 FY26. The company scaled its Direct-to-Customer offerings across motor, health, and life insurance, featuring 73 plans, and expanded its Digital PoSP channel across 21 states. Overall, Jio Financial Services emphasized its digital-first strategy, leveraging AI and data analytics, and reported a unique user base of over 20 million users across its digital properties.

For Q3 FY26, Consolidated Profit after Tax stood at ₹269 crore, a decrease from ₹295 crore in Q3 FY25 and ₹695 crore in Q2 FY26, primarily due to increased expenses for scaling up businesses and the impact of the full consolidation of Jio Payments Bank. The company remains well-capitalized with a Total Consolidated Shareholders' Equity base of nearly ₹1.5 lakh crore, providing ample resources for continued investment in high-growth and nascent ventures. Provisions for expected credit loss were ₹19 crore, in line with lending book growth and prudent provisioning norms.