As anticipation surrounding the potential IPO of Reliance Jio has given rise to great-level excitement in some corners, another entity with the name Jio, Jio Financial Services Ltd., is also in the news.
Company Publishes Q1 Earnings
The company recently released its results for Q1 of FY25, which concluded on June 30.
In addition, the markets have also reacted to the numbers that emerged in the results.
At the halfway mark of the day's trade, the company shares lost over 2 per cent of their value.
The earnings for the quarter from April to June showed a marginal rise in its profit of 0.64 per cent, as the company recorded a total profit of Rs 312.63 crore in this quarter of Q1 FY25, compared to Rs 310.63 crore in the last quarter of the previous fiscal year (consolidated unaudited). |
The results released through an exchange filing were not particularly remarkable.
The earnings for the quarter from April to June showed a marginal rise in its profit of 0.64 per cent, as the company recorded a total profit of Rs 312.63 crore in this quarter of Q1 FY25, compared to Rs 310.63 crore in the last quarter of the previous fiscal year (consolidated unaudited).
In addition, the finserv company also saw a drop in its total revenue from its operations.
The total income dropped to Rs 417.82 crore from Rs 418.10 crore. Thereby marking a decline of 0.086 per cent in the total income generated.
Jio Fin Shares Dwindle
Interestingly, the company's total expenses have dropped. The expenses for this quarter were Rs 79.35 crore, compared to Rs 103.12 crore in the final quarter of the previous fiscal year.
Meanwhile, the company's tax expenses also rose to Rs 87.76 crore (in Q1 FY25), compared to Rs 82.04 crore in the previous quarter.
Halfway through the day at 12:38 IST, the company lost a mammoth 2.60 per cent or Rs 9.25 of its value, slumping to Rs 346.15 per share. |
The company shares have gained 39.74 per cent in the trading session over the past 6 months and have gained 48.26 per cent over the past year.
However, the Mumbai-based company opened the day's trade on Tuesday on a low note and continued to trade in Red thereafter.
Halfway through the day at 12:38 IST, the company lost a mammoth 2.60 per cent or Rs 9.25 of its value, slumping to Rs 346.15 per share.
