Jio
Financial on Monday (15/7/2024) published its Q1 results FY 25.The company
recorded a 6% decrease in net profit compared to the same period previous year.
The profit plunges to Rs. 312.63 crore which was Rs. 332 crore in the same
quarter last financial year. A marginal increase of 0.6% from Rs.310.6 crore in
the June quarter FY 2024.
Revenue from
operations seen Rs, 418 crore an increase of 0.9% from Rs. 414 crore recorded
in the same period previous year.
Income from interest
stood at Rs.162 crore, which was Rs.202 crore in the June quarter, 2024.
Jio Financial
announced earlier that it had received the necessary green signal from the
Reserve Bank of India to a transition from NBFC to Core Investment Company
(CIC).
The company has also
announced this time that it has just started leasing Air fibres from the month
of June, 2024.
Today, in live market Jio Financial
trading at Rs.347, 2.18% down. The stock has immediate support at around
Rs.330.The strong support is at Rs.309, which if broken, it can correct
heavily. Long term investors need not to worry. Always maintain proper risk
management. Happy trading.
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