Jio Financial Services Reports Decline in Q1 FY25 Financial Results
Jio Financial Services, a leading finance and non-banking financial company (NBFC) in the largecap industry, recently announced its financial results for the quarter ending June 2024. The company’s stock has been given a ‘Hold’ call by MarketsMOJO.
According to the financial report, Jio Financial has experienced a flat performance in the quarter, with a score of -1 compared to 17 in the previous three months. This decline can be attributed to various factors.
One of the major concerns for the company is its Profit After Tax (PAT), which has fallen by 22.1% to Rs 312.63 crore in the quarter. This is a significant decrease from the average PAT of the previous four quarters, which was Rs 401.14 crore. The near-term trend for PAT is also negative.
Similarly, the Profit Before Tax less Other Income (PBT) has also seen a decline of 18.1% to Rs 400.39 crore in the quarter. This is lower than the average PBT of the previous four quarters, which was Rs 488.77 crore. The near-term trend for PBT is also negative.
In terms of net sales, Jio Financial has reported a decrease of 9.8% to Rs 417.82 crore in the quarter. This is lower than the average net sales of the previous four quarters, which was Rs 463.47 crore. The near-term trend for sales is also negative.
Overall, Jio Financial’s financial performance for the quarter ending June 2024 has not been up to the mark. However, the company remains optimistic about its future prospects and is working towards improving its financials in the upcoming quarters.
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