Jio Financial Services To Declare 1st Ever Dividend For FY25; Board Meeting This Week – Buy Now?

The Reserve Bank of India has recognized Jio Financial Services Limited (JFSL) as a Core Investment Company (CIC). As the Board of BSE 100 stock will meet this week to look over and approve the financial results and the first-ever dividend for the quarter and year ended March 31, 2025, Jio Financial Services' shares ended Tuesday's trading session 3.71% higher on the BSE at Rs 238.70 per share, with a market capitalization of Rs 1,51,649.49 Cr.

Jio Financial Services Dividend

"We wish to inform you that pursuant to Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, April 17, 2025, inter alia, to: consider and approve the standalone and consolidated audited financial results of the Company for the quarter and year ended March 31, 2025; and recommend dividend on equity shares of the Company for the financial year ended March 31, 2025. A presentation to analysts on financial results of the Company for the quarter and year ended March 31, 2025 shall be made on the same day after the meeting," said Jio Financial Services in a stock exchange filing.

Jio Financial Services News

Jio Finance Limited (JFL) recently, on April 8 announced entirely digital Loan Against Securities (LAS) for customers. With just 10 minutes and a fully digital procedure, JFL's LAS offering is a secured lending product that enables customers to leverage their investments, including stocks and mutual funds, to get loans at reasonable interest rates. Depending on their specific risk profile, customers can obtain loans up to Rs. 1 crore with interest rates as low as 9.99%. With the JioFinance app, these loans have a maximum term of three years and come with no foreclosure fees.

Jio Financial Services Financials

For the third quarter that concluded in December 2024, Jio Financial Services Ltd. reported that its consolidated profit was constant at Rs 295 crore. According to a regulatory filing by Jio Financial Services, the business made a consolidated net profit of Rs 294 crore during the same quarter of the previous fiscal year. Nonetheless, in the second quarter of the current fiscal year, the company's consolidated net profit was Rs 689 crore. From Rs 414 crore in the third quarter of the previous fiscal year, total revenues rose to Rs 449 crore. Additionally, total costs increased year over year to Rs 131 crore from Rs 99 crore in the same period last year. The company's net profit for the nine months that ended in December increased slightly to Rs 1,296 crore from Rs 1,294 crore during the same time last year.

Jio Financial Services Share Price Target

"Jio Financial stock price is slightly bullish on the Daily charts with strong support at 223. A Daily close above resistance of 239 could lead to a target of 267 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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