Jio Financial share price gains 3% as profit doubles in Sept after Q2 Results 2023

There is a big change in the market now. Because of the Q2 results, there has been a big impact on Jio Financial. The Jio Financial share price has gained 3% as the profit doubled in the September 2023 quarter. It has been reported that Jio Financial Services has consolidated the net profit surged to 101.3% to Rs. 668.18 crore in the quarter under the review versus Rs. 331.92 crore in the previous quarter Q1FY24 on the back of the big income from the operations. Jio Financial Services has risen over 3% to Rs. 232 on the Bombay Stock Exchange (BSE) on 17th October 2023, Tuesday. Read this article till the last line to know every single thing related to the current market situation of Jio.

Jio Financial

On 17th October 2023, Tuesday, the shares of Jio Financial Services rose over 3% to Rs. 232 on the Bombay Stock Exchange (BSE) after Jio Financial’s profit doubled in the quarter ended September 2023 Q2FY24 in the first results reported after it carved out from the Mukesh Ambani -led Reliance Industries. It has now consolidated net profit which has surged to 101.3% to Rs. 668.18 crores in the quarter which is under review versus Rs. 331.92 crores in the last quarter Q1FY24 in the back of the big income from the operations. Continue reading to know more.

According to the source, the net profit has surged at 101.3% to Rs. 668.18 crore in the quarter under the review versus Rs. 331.92 crore in the last quarter on the back of the big income operations. The total income has risen to 46.8% QoQ to Rs. 608 crore which is against Rs. 414 crore in Q1FY24. According to the reports, the company’s total expenses rose to 33% QoQ to Rs. 71 crore primarily owing to higher employee expenses. The interest income for the September 2023 quarter was a total of Rs. 186 crore which has been compared to Rs. 202 crore a quarter ago.

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Reports have shown that the company revenue is going to fall by 31% to Rs. 148.9 crore from 214.57 crore in Q1FY24. It has been said that the profit came at around Rs. 88.76 crore versus Rs. 2.03 crore in the period earlier year. As per the release of the Quarter 2 results the firm has officially declared the appointment of AR Ganesh as the group chief technology officer. Many people don’t know who is he so AR Ganesh is the person who has been associated with ICICI Bank for the last 13 days. Currently, the stock has been listed at Rs. 265 on the BSE and Rs. 262 on the NSE.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging