Shares of Jio Financial Services were in the spotlight on Tuesday, gaining over 2% during intraday trading ahead of the company’s upcoming fourth-quarter earnings and potential dividend announcement. The surge in investor interest comes as the non-banking financial company (NBFC) arm of Reliance Industries is set to assess its maiden dividend and approve audited financial statements for the quarter and financial year ended March 31, 2025.
According to an exchange filing, the company’s board will meet on Thursday, April 17, to consider and recommend a dividend on equity shares for the recently concluded fiscal year. On the same day, the board will also review and approve the company’s standalone and consolidated financial results.
Financial Performance Snapshot
Jio Financial reported a consolidated net profit of ₹295 crore in the third quarter ending December 2024, showing minimal change from ₹294 crore recorded in the same quarter last fiscal. However, this marked a decline from the ₹689 crore profit reported in Q2 FY25.
Total income for Q3 rose to ₹449 crore, up from ₹414 crore in the corresponding period last year, while expenses increased to ₹131 crore from ₹99 crore year-on-year. For the nine-month period ending December 2024, net profit edged up to ₹1,296 crore, slightly above ₹1,294 crore reported during the same timeframe in the previous fiscal.
A spin-off from Reliance Industries, Jio Financial Services operates across multiple verticals including investment and financing, insurance broking, payment banking, payment gateway services, and payment aggregation.
Stock Movement and Technical Outlook
The Jio Financial stock opened at an intraday high of ₹235.85 on the BSE and dipped to a low of ₹232.50 during the session. The stock’s recent trajectory suggests consolidation within a rectangle pattern, with boundaries identified between ₹200 and ₹235.
Anshul Jain, Head of Research at Lakshmishree Investment and Securities, noted that the stock has corrected nearly 49% over the past 45 weeks. “A breakout above ₹235 would signal the end of the consolidation phase and could ignite fresh upward momentum,” Jain said, adding that the immediate target would be ₹262, with the full pattern projecting a move up to ₹298. He also emphasized the importance of high trading volumes to confirm the breakout.
Meanwhile, Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, commented that the stock is currently testing its 50-day exponential moving average (50DEMA) around ₹230. “A close above this level would be bullish and could propel the price towards the 89-day EMA at ₹250,” Bhosale stated. He added that immediate support lies at ₹220.
As investors await Thursday’s earnings announcement and potential dividend declaration, all eyes remain on whether Jio Financial Services can maintain its upward momentum and break out of its current trading pattern.
