Mumbai: Jio Financial Services Ltd. infused additional equity of ₹1,346 crore into its group entities in FY25 to fuel “future growth aspirations and support the growing scale of the diverse businesses”.
The group entities that received the funding include Jio Finance Ltd, Jio Payments Bank Ltd, and the joint ventures with BlackRock for asset management and wealth management, the company said as part of its earnings for the fourth quarter of FY25.
Jio Financial is the listed core investment company (CIC), which acts as the holding company for eleven group entities, including the three joint ventures with US-based BlackRock—Jio BlackRock Investment Advisors for the broking and wealth business, Jio BlackRock Asset Management and Jio BlackRock Trustee Pvt Ltd for the mutual fund business.
The parent said the senior leadership and core business teams are in place for the asset management company, which filed its application for final approval in FY25. The company has also developed a unified investment platform and deployed infrastructure to launch “with a defined product roadmap and go-to-market strategy”.
The company filed an application for a broking licence in March 2025, and another under the wealth business for a registered investment advisor licence.
Growth strategy
With these lines of business, the current focus is on the mass affluent and higher income segments, the company said. It defines mass affluent as customers with an annual income of ₹7-25 lakh, affluent as those with an income of ₹25 lakh to ₹1 crore a year, and high net worth individuals (HNIs) and ultra HNIs as those with even higher incomes.
“The year was defined by swift product launches, strengthening distribution across key markets, and rapid growth in the JioFinance app’s user base. In FY26, we will build upon this momentum by leveraging our integrated data infrastructure and AI-driven analytics to offer the right product to the right customer, through the right channel,” said managing director and chief executive Hitesh Sethia.
Jio Financial posted a consolidated net profit of ₹316 crore for Q4 FY25, up from ₹295 crore in the previous quarter and ₹311 crore in the year-ago period. Profit after tax for FY25 was ₹1,613 crore, slightly higher than ₹1,605 crore in the previous year, with a rise in staff and operating expenses, and provisions, weighing on the bottom line.
Consolidated assets of the company fell 7.8% on-year to ₹1.3 trillion, led by a reduction in the value of investments and cash and bank balances. Assets under management of the lending and leasing business, under Jio Finance Ltd, grew nearly 2.5-fold on-year to ₹10,053 crore as at the end of March 2025.
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