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regular-article-logo Friday, 24 May 2024

Jio Financial Services net profit rises 6 per cent

The financial services company, demerged from Reliance Industries, had reported a profit of Rs 294 crore for the December quarter

PTI Mumbai Published 20.04.24, 12:02 PM
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Jio Financial Services on Friday reported a 6 per cent increase in consolidated net profit at Rs 311 crore for the fourth quarter ended March on the back of an improvement in income.

The financial services company, demerged from Reliance Industries, had reported a profit of Rs 294 crore for the December quarter.

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Standalone profit for the quarter rose to Rs 77.76 crore from Rs 23.03 crore a year ago.

On an annual basis, the company’s consolidated net profit jumped multi-fold to Rs 1,605 crore in FY24 against Rs 31 crore in the preceding fiscal.

Revenues improved marginally to Rs 418 crore from Rs 414 crore in the December quarter.

Expenses also increased marginally to Rs 103 crore from Rs 99 crore in the third quarter.

HDFC AMC net up

HDFC Asset Management Company (AMC) on Friday reported a 44 per cent jump in profit after tax at Rs 541.1 crore in three months ended March.

The company had posted a profit after tax (PAT) of Rs 376.1 crore in the year-ago period, the fund house said.

The firm’s total income surged by 33 per cent year-on-year to Rs 851 crore in the quarter under review from Rs 637.8 crore in the January-March quarter of the financial year 2022-23.

Additionally, the company’s expenses grew 18 per cent YoY to Rs 172 crore in the fourth quarter ended March.

Hind Zinc profit falls

Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday said its consolidated net profit declined 21 per cent to Rs 2,038 crore for the quarter ended March 31, mainly on account of lower zinc price.

The company posted a consolidated net profit of Rs 2,583 crore in the corresponding quarter of the previous fiscal.

PTI

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