Jio Financial Services Q3 FY26: AUM Crosses ₹19,000 Cr, Core Income Becomes Main Growth Driver

Mumbai: Jio Financial Services Ltd (JFSL) on Tuesday said its core business operations have emerged as the primary growth driver in the third quarter of FY26, as lending, payments and asset management businesses scaled up sharply.

In a regulatory filing to stock exchanges, the company informed that it has uploaded the transcript of its analyst presentation held on January 15, 2026, discussing unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2025.

Core income crosses inflection point

JFSL reported net income from business operations of ₹386 crore in Q3 FY26, a 320 per cent year-on-year increase, accounting for 55 per cent of consolidated net total income, compared with 20 per cent in the same quarter last year. This marked what the management described as an “inflection point” where operating businesses now dominate earnings.

Consolidated total income doubled year-on-year to ₹901 crore, while pre-provisioning operating profit (PPoP) stood at ₹354 crore during the quarter. Profit after tax (PAT) came in at ₹269 crore.

The company remains well capitalised with a consolidated shareholders’ equity base of nearly ₹1.5 lakh crore.

Lending arm scales rapidly

The company’s NBFC arm, Jio Credit, continued to expand at a brisk pace. Assets under management (AUM) rose to ₹19,049 crore, a 4.5-fold increase year-on-year, supported by gross disbursements of ₹8,615 crore during the quarter.

Net interest income from the lending business grew 166 per cent year-on-year to ₹165 crore, while the capital adequacy ratio remained strong at 24.39 per cent. The average cost of borrowing declined marginally to 6.99 per cent.

Payments businesses gain traction

Jio Payments Bank, now a wholly owned subsidiary of JFSL, reported total deposits of ₹507 crore, up 94 per cent year-on-year, with its customer base rising to 3.2 million. The bank’s business correspondent network expanded to nearly 2.87 lakh touchpoints, following RBI’s in-principle approval to add over 75,000 new correspondents.

The bank’s total income during the quarter rose to ₹61 crore, registering a tenfold increase year-on-year, driven by higher transaction volumes and new product offerings.

Meanwhile, Jio Payment Solutions recorded a transaction processing volume of ₹16,315 crore, up 156 per cent year-on-year, with net processing margins improving to 10 basis points.

Asset management, insurance show momentum

The Jio-BlackRock Asset Management joint venture crossed ₹15,000 crore in AUM across 10 mutual fund schemes within six months of launch, with over one million retail investors onboarded. More than 40 per cent of retail AUM came from beyond the top 30 cities, underscoring the platform’s digital reach.

JFSL’s insurance broking arm facilitated insurance premium of ₹212 crore during the quarter, reflecting 22.5 per cent year-on-year growth, supported by expansion of its digital PoSP network across 21 states.

Management outlook

Managing Director and CEO Hitesh Sethia said the company is building a diversified financial ecosystem covering borrowing, investing, protection and transactions, supported by a digital-first approach and growing use of AI-led intelligence.

The analyst call transcript and earnings presentation are available on the company’s website, www.jfs.in/financials, JFSL said in its filing.