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• Jio Financial Q4 investor presentation
• P&L statement

Jio Financial Services Ltd (JFSL), the fintech arm of Reliance Industries, reported a 14% drop in consolidated net profit to Rs 272.2 crore for the fourth quarter ended March 31 (Q4 FY26) due to higher expenditure. The company had posted a net profit of Rs 316.1 crore in the same quarter last year. On a quarter-on-quarter basis, profit after tax rose marginally from Rs 269 crore.

A combination of factors took a toll on the bottom line:

• Jio Payments Bank Ltd (JPBL), a 70:30 joint venture between Jio Financial and State Bank of India, became a 100% subsidiary of JFSL in June 2025. While JPBL’s operating loss was previously accounted for under the share of profit from JVs and associates, it is now reflected in JFSL’s own books.

• Continued investments in scaling up core business verticals and incubating early-stage businesses. For instance, JFSL forayed into India’s alternative assets market during Q4FY26 and invested Rs 1 crore in its new entity, Jio Alternative Investment Manager Ltd.

• Geopolitics-led volatility impacted treasury income on a higher capital base.

The lower profits came despite a surge in revenue, led by sharp growth in its core businesses. Revenue from operations more than doubled to Rs 1,018.5 crore during the quarter under review, compared to Rs 493.2 crore in Q4 FY25.

How did Jio Financial’s lending arm perform? Jio Credit Limited, the company’s non-banking financial company (NBFC) arm, continued to scale rapidly.

• Assets under management (AUM) grew 156% year-on-year and 35% sequentially to Rs 25,711 crore. Home loans and loans against properties accounted for 45% of AUM, while corporate loans accounted for 44%. The remaining came from loans against securities.

• Gross loan disbursements during the quarter stood at Rs 10,629 crore, rising 49% on-year.

• Net interest income from the lending business rose 149% year-on-year to Rs 202 crore, while pre-provisioning operating profit surged 155% to Rs 120 crore.

Customer base expands across the payments ecosystem: Jio Payments Bank had 3.7 million current account and savings account (CASA) customers as of March 2026, up 61% year-on-year and 16% on a quarterly basis.

• Jio Payments Bank reported an 11x surge in total income to Rs 87 crore in Q4 FY26, while deposits across CASA and wallets increased 84% year-on-year to Rs 544 crore.

• Payment banks operate like any other bank but at a smaller scale, without assuming any credit risk, as they cannot issue credit cards or make loans. Other players in this space include Fino and Paytm Payments Bank.

• Jio Payment Solutions Ltd, the company’s full-stack payments platform for merchants, reported a total payment value (TPV) of Rs 15,000 crore in Q4 FY26, up 145% from Rs 6,000 crore in the year-ago quarter. Under this business vertical, JFSL provides payment gateway and payment aggregator services to online merchants, facilitating digital payments via UPI, credit/debit cards and netbanking. It also offers Point of Sale devices and UPI QR codes to in-store merchants.

The asset management business, operated through the Jio-BlackRock joint venture, reported assets under management of Rs 15,218 crore across 10 funds, with a retail investor base of over 1.1 million. The company said over 40% of inflows came from beyond the top 30 cities, with the share of first-time mutual fund investors roughly at 20%.

• In a statement, the company said it is awaiting final approval from the International Financial Services Centres Authority (IFSCA) to set up a retail Fund Management Entity in Gujarat’s GIFT City.

Jio Insurance Broking, the insurance arm of Jio Financial Services, saw a healthy uptick in premiums facilitated. This metric grew 80% sequentially to Rs 273 crore in Q4 FY26.

• Last month, Jio Financial Services CEO Hitesh Sethia told PTI that the company intends to start general and life insurance businesses this year. Currently, it offers motor vehicle, health and investment insurance.

Recently, the company also entered the reinsurance business, with Allianz Jio Reinsurance Ltd, an equal joint venture between Jio Financial Services and Germany-based Allianz Group, kicking off operations in March 2026. The fintech company will also partner with Allianz for general and life insurance businesses.

Key operating metrics – Q4 FY26

• 23 million unique users across all digital services
• 9.3 million Average monthly active users (MAU)
• 244,000 users linked assets using the Account Aggregator framework
• 31 million JioPoints issued to 1.2 million enrolled customers

Also Read:

• Reliance Posts 10% Revenue Growth In Q3FY26 As Jio Crosses 500 Million Subscribers
• Q2FY26 Earnings Call: Reliance Rules Out Building LLMs, Focuses on AI Infrastructure and Quick Commerce Expansion
• Reliance Retail’s Q3FY26 Signals a Move Beyond 10-Min Delivery, Bets on Store-Led Growth