Mumbai: Jio Financial Services Ltd, which was spun off from Reliance Industries Ltd and listed on the stock exchanges last year, reported a year-on-year 3% increase in net profit to Rs 689 crore for the quarter ending September 30, according to media reports.
Revenue for the fiscal second quarter rose 14% to Rs 693.5 crore, up from Rs 608 crore in the same period last year, according to the company’s regulatory filing on October 18, reported Moneycontrol.
JFSL, in partnership with BlackRock, the world’s largest asset manager, has announced ventures to enter the asset management and broking sectors in India.
Shortly after its demerger from Reliance Industries in July 2023, the company revealed the formation of a 50:50 joint venture with BlackRock to launch asset management services in the country.
Recently, the companies received approval from SEBI to act as co-sponsors and establish a mutual fund business in India.
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