Jio Financial Services posted a strong set of numbers in the second quarter of FY26, signaling a clear shift toward business-led growth. During the quarter, consolidated total income rose to Rs 1,002 crore, reflecting a sharp 44% year-on-year increase. Importantly, and for the first time, income from core business activities moved ahead of treasury income, underlining the company’s evolving operating profile.
Moreover, management described the quarter as a decisive turning point. During an analyst call on October 16, 2025, MD & CEO Hitesh Sethia explained that net income from operations surged five-fold to Rs 317 crore. As a result, business income contributed 52% of consolidated net income, compared with just 14% in the same quarter last year. Consequently, the company crossed what leadership termed a clear “inflection point.”
Meanwhile, growth across lending activities accelerated sharply. Jio Credit Limited, the NBFC arm, expanded Assets Under Management to Rs 14,712 crore as of September 30, 2025. Compared to Q2 FY25, this represented a twelve-fold jump. Additionally, quarterly disbursements climbed to Rs 6,624 crore. Because of improved credit ratings, the NBFC also reduced its average borrowing cost to 7.06%, which further supported margins and scalability.
At the same time, the asset management business gained rapid traction. The joint venture with BlackRock gathered Rs 15,980 crore in AUM within just four months of launch. Furthermore, the JioBlackRock Flexi Cap Fund attracted nearly Rs 1,500 crore during its new fund offering. Notably, over 480,000 investors participated, reflecting strong retail confidence and distribution strength.
Similarly, the payments segment recorded robust expansion. Jio Payment Solutions processed transactions worth Rs 13,566 crore, marking 167% year-on-year growth. In addition, Jio Payments Bank rapidly expanded its Business Correspondent network to 200,000 touchpoints, compared with 2,307 a year earlier. As a result, the customer base almost doubled to 3 million.
Beyond individual verticals, the company’s digital reach continued to widen. Within just 16 months of the JioFinance app launch, approximately 18 million unique users engaged across platforms. Furthermore, services now extend to more than 19,000 pin codes nationwide, reinforcing the goal of broad-based financial inclusion.
Strategically, the quarter also delivered key developments. The incorporation of Allianz Jio Reinsurance Limited marked a new step in the protection segment. Additionally, shareholders approved a Rs 15,825 crore preferential warrant issue, with Rs 3,956 crore already received. Therefore, the balance sheet remained well-capitalized, with consolidated net worth at Rs 1.35 lakh crore.
Looking ahead, Jio Financial Services plans to deepen the use of artificial intelligence, real-time analytics, and intelligent personalization. With regulatory approvals secured for wealth management and broking under the BlackRock partnership, the company appears well-positioned to scale across India’s expanding financial ecosystem.
