Jio Financial Q1 profit surges 155% on NBFC and payments growth
Jio Financial’s first-quarter profit surged 155% to Rs 830 crore, driven by rapid expansion in its non-bank lending and payment platforms that signals the company's emergence as a broad financial services competitor in India.
Jio Financial reported a first-quarter profit of Rs 830 crore, up 155% from a year earlier, as revenue from operations more than tripled to Rs 2,004 crore. The company attributed the performance to "accelerated growth across businesses," with pre-provisioning operating profit rising 38% to Rs 505 crore. A one-time dividend income of Rs 509 crore also helped lift profit before tax 131% to Rs 970 crore.
The primary engine for the top-line expansion was Jio Credit, the company's non-banking financial company arm. Gross assets under management soared 163% year-on-year to Rs 30,667 crore, supported by a 173% jump in loan disbursements to Rs 11,252 crore. The lending portfolio is heavily concentrated in secured products, with mortgages accounting for 45.4% of assets and corporate and SME loans making up 44.2%.
This rapid build-out of the loan book marks a significant shift in Jio Financial's business model, moving it beyond a passive cash holder into a direct competitor for India's established non-bank lenders. Interest income drove the bulk of the consolidated total income, which reached Rs 1,496 crore.
The company’s digital payments infrastructure is scaling in tandem with its lending business. Total payment value at Jio Payment Solutions grew 2.5 times to Rs 19,208 crore, lifting gross fee and commission income to Rs 176 crore. The Jio Payments Bank added customers, reaching 3.9 million current and savings account users, while deposits climbed 72% to Rs 617 crore.
These financial products are funneling through a growing digital storefront. The Jio Finance marketplace averaged 9 million monthly active users during the quarter, with roughly 34,000 own and third-party products purchased daily by June 2026. Across its digital properties, the company now boasts over 25 million unique users.
Jio Financial is also leveraging partnerships to round out its financial ecosystem. The JioBlackRock asset management joint venture grew its closing AUM 21% from the prior quarter to Rs 18,412 crore. Separately, the newly incorporated Allianz Jio General Insurance venture and the Allianz Jio Reinsurance arm are moving into the market, with the reinsurer underwriting Rs 266 crore of gross written premium in its first operational quarter.
For investors, the results demonstrate that Jio Financial is successfully cross-selling financial products to its massive existing user base. The convergence of high-growth lending, expanding payment volumes, and new insurance and asset management ventures positions the firm to capture a larger share of India's retail financial services market.
