Jio Financial Services Q3 Profit Declines 9% Amid Revenue Growth and Rising Expenses

Jio Financial Services reported a 9% year-on-year decline in net profit to Rs 269 crore for Q3 FY26 despite a 106% rise in revenue to Rs 901 crore, driven by growth in lending, payments, and asset management. Expenses surged over threefold due to investments in new business verticals, impacting profitability. The company's NBFC assets under management grew 4.5 times year-on-year to Rs 19,049 crore. Shares faced selling pressure despite strong operational growth and a shift toward operating income.