Jio Monetary Providers Q1 Outcomes: Internet revenue falls 6% YoY to Rs 313 crore
Curiosity earnings fell 20% to Rs 162 crore in June 2024 from Rs 202 crore a 12 months in the past whereas bills elevated to Rs 79 crore from Rs 54 crore a 12 months in the past, primarily as workers bills elevated greater than three time to Rs 39 crore in June 2024.
In a presentation to traders accompanying the primary quarter outcomes Jio Monetary mentioned it had launched mortgage in opposition to mutual funds and auto and two-wheeler digital insurance coverage in July 2024. The corporate has a tie up with 31 insurance coverage corporations.
Jio Monetary has about 5 lakh Jio Finance app downloads as of July 14, which was launched as a beta model in Could 2024. It has additionally launched a beta model of its house loans this month and has plans to launch mortgage in opposition to property and mortgage in opposition to securities sooner or later.
The corporate additionally launched its ship leasing enterprise by leasing its first ship beneath Reliance Worldwide Leasing IFSC Restricted (RILIL) in a three way partnership with group firm Reliance Strategic Enterprise Ventures Ltd primarily based in GIFT metropolis.The corporate will even finance photo voltaic panels and IT gear and has obtained approval to increase its enterprise correspondents (BC) community to 16,000 retailers. The corporate mentioned its asset administration three way partnership with BlackRock is progressing with infrastructure and tech platforms in superior phases of improvement.
