Jio Financial Services Q2 Results Live : Jio Financial Services declared their Q2 results on October 18, 2024, showcasing a robust performance amidst a challenging market. The company reported a topline increase of 9.47% year-over-year (YoY), with profits rising by 3.13% compared to the same quarter last year.
The revenue growth is particularly notable when compared to the previous quarter, showing a staggering increase of 143.39%. Profit for the same period also saw significant growth, up by 120.41%, highlighting the company’s strong operational performance.
However, the company faced rising costs, with selling, general, and administrative expenses surging by 73.97% quarter-over-quarter (q-o-q) and 117.3% YoY. This increase in expenses has raised concerns among analysts about the sustainability of profit margins moving forward.
The operating income experienced a remarkable jump of 182.43% q-o-q, although it did see a decline of 8.73% YoY, indicating some volatility in its core business operations.
Earnings per share (EPS) for Q2 stood at ₹1.1, reflecting a modest increase of 4.14% YoY, suggesting that the company is still generating value for its shareholders despite the challenges it faces.
In terms of stock performance, Jio Financial Services has encountered a rough patch recently, recording a -4.26% return over the last week and a -13.02% return over the past six months. However, it boasts a commendable 41.3% year-to-date return, indicating a strong overall performance in 2024.
Currently, Jio Financial Services has a market capitalization of ₹209,118.4 crore, with a 52-week high of ₹394.7 and a low of ₹204.25, reflecting the volatility and investor sentiment surrounding the stock in recent months.
Jio Financial Services Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 486.57 | 199.91 | +143.39% | 444.48 | +9.47% |
| Selling/ General/ Admin Expenses Total | 67.71 | 38.92 | +73.97% | 31.16 | +117.3% |
| Depreciation/ Amortization | 5.61 | 5.39 | +4.08% | 5.4 | +3.89% |
| Total Operating Expense | 146.07 | 79.35 | +84.08% | 71.43 | +104.49% |
| Operating Income | 340.5 | 120.56 | +182.43% | 373.05 | -8.73% |
| Net Income Before Taxes | 773.49 | 400.39 | +93.18% | 754.43 | +2.53% |
| Net Income | 689.07 | 312.63 | +120.41% | 668.18 | +3.13% |
| Diluted Normalized EPS | 1.1 | 0.49 | +122.4% | 1.05 | +4.14% |
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