Jio Financial Q3 Results: Jio Financial Services made profit of Rs 293 crore in the third quarter, there was a strong rise in the stock.

Jio Financial Services Q3 Results: Jio Financial Services, the fintech company of Reliance Industries, has declared the results for the third quarter of the financial year 2023-24. The company has made a profit of Rs 293 crore during the October to December quarter.  However, this is very less compared to the profit of Rs 668 crore made in the second quarter. 

The net interest income of Jio Financial Services in this quarter was Rs 269 crore. The company's income in this quarter was Rs 414.53 crore. While announcing the results, the company said that it has made two appointments at the senior management level. The company said in its exchange filing that the company's board has approved the appointment of Rupali Adhikari Sawant to the post of Internal Audit – Group Head with effect from January 15, 2024. On the basis of RBI circular on appointment of Compliance Function and Role of Chief Compliance Officer, Sudheer Reddy Govula has been appointed as Group Chief Compliance Officer for the next four years from January 15, 2024. 

Well, today there has been a strong rise in the shares of Jio Financial Services in the stock market. Jio Financial's stock reached above its discovery price level for the first time. The stock of Jio Financial reached the level of Rs 269.70, which is the historical high of the stock. The stock closed at the level of Rs 266.75 in today's session and the market cap has crossed Rs 1.69 lakh crore. 

Earlier on January 3, 2024, it was revealed that Jio Financial Services and BlackRock Financial Management applied to the stock market regulator Securities and Exchange Board of India to launch mutual fund business. Is. SEBI is currently studying the application. The joint venture of Jio Financial Services and BlackRock Financial Management had applied for the license of mutual fund business with SEBI on 19 October 2023. A joint venture named Jio BlackRock has also been formed in which both the companies have 50-50 percent stake. Both Jio and BlackRock will invest $150 million in this joint venture. 

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