Jio Financial Services Share Price Surges, Stock Extends Gain For Second Session - Know Why

Jio Financial Services Share Price: Shares of Jio Financial Services Ltd. gained over 2 per cent to trade at an intraday high of Rs 235.94 apiece on the NSE. The stock extended gains for the second session after the company said that it is considering the announcement of its first-ever dividend payout.

Jio finance share price surged after the company informed the exchanges on April 14 that a meeting of its Board of Directors is scheduled to be held on April 17. The board of directors of Jio Financial is scheduled to consider the payment of a dividend for the financial year ending March 31, 2025, at the meeting. Notably, this will also be the company’s first dividend payout announced by the company for shareholders after the company is listed separately from Reliance Industries Limited (RIL) in July 2023.

“..consider and approve the standalone and consolidated audited financial results of the Company for the quarter and year ended March 31, 2025; and recommend dividend on equity. The board is also set to approve the standalone and consolidated audited financial results of the company for the quarter and year ended March 31, 2025,” the company said in the filing.

Apart from the dividend payout, the board is also set to consider and approve the financial results of the company for the fourth quarter and fiscal year, which ended on March 31, 2025.

Jio Financial Services Q3FY25 Results

Jio Financial Services’ consolidated revenue from operations for the quarter ended December 31 of FY25 declined by nearly 22 per cent to Rs 210.07 crore compared to Rs 269.08 crore in the December quarter of FY24. The Reliance Group company’s consolidated net profit grew marginally by 0.32 per cent to Rs 294.78 crore in Q3FY25 from Rs 293.82 crore in the corresponding quarter of the preceding fiscal.

Jio Financial Services Listing Price

Shares of Jio Financial Services were listed on the exchanges on August 21, 2023. Jio Financial Services' share price at the time of listing was derived at Rs 262 apiece on the NSE. Currently, the stock is trading nearly 11 per cent below its listing price.

Jio Financial Services Share Price History

Jio Financial Services' share price has slumped over 35 per cent and has declined over 21 per cent on a year-to-date basis. Jio Financial Services' shares have fallen nearly 30 per cent in six months. The NBFC’s stock has surged over 3 per cent in a month, and in 5 days the Reliance group company’s shares have surged nearly 16 per cent.

At the time of writing, shares of Jio Financial Services traded at Rs 234.36 apiece, up by 1.89 per cent on the NSE.