January 17, 2025
Release Date: January 17, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q : Can you elaborate on the strategic initiatives that have contributed to the growth in assets under management for Jio Financial Services Ltd? A : Hitesh Sethia, CEO, explained that the growth in assets under management, which reached INR4,199 crores in Q3 FY25, was driven by a diversified product suite, enhanced distribution, and a scalable tech stack. The company is focusing on operational execution and crafting digital journeys for customers, which includes services like digital gold purchases and payment solutions for small merchants.
Q : What are the recent developments in Jio Financial Services' payment solutions and banking sectors? A : Hitesh Sethia, CEO, highlighted that Jio Payment Bank Limited expanded its business correspondent network to 7,300 DCs nationwide. Jio Payment Solutions Limited received an online payment aggregator license, allowing it to offer payment gateway services to merchants. These developments are part of the company's strategy to enhance distribution and customer engagement.
Q : How is Jio Financial Services leveraging its partnership with BlackRock? A : Hitesh Sethia, CEO, stated that Jio BlackRock Asset Management Private Limited has submitted an application for final regulatory approval. The partnership aims to simplify the investment landscape in India, and the company is in advanced stages of building its leadership and technology platform to support this initiative.
Q : Can you provide insights into the financial performance of Jio Financial Services for Q3 FY25? A : Abhishek Pathak, CFO, reported that the consolidated profit after tax for Q3 FY25 was INR295 crores. The total income for the quarter was INR449 crores, with interest income contributing INR210 crores. The company experienced a sequential decline in total income due to a dividend received in the previous quarter.
Q : What are the key focus areas for Jio Financial Services moving forward? A : Hitesh Sethia, CEO, emphasized that the company aims to become a leading financial services provider in India by focusing on digital transformation, expanding its product offerings, and leveraging data analytics for customer insights. The company is also committed to maintaining strong governance and regulatory adherence.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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