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Jio Financial Shares Drop 3% After Weak Q1 Results: Should You Invest Now?

Shares of Jio Financial Services fell almost 3% on Tuesday, hitting a low of ₹346.80. This drop followed a 6% year-on-year decline in net profit for the quarter ending June 2024.

Key Numbers:

  • Q1FY25 net profit: ₹313 crore (down from ₹332 crore last year)
  • Total revenue from operations: ₹418 crore (up 0.9% from ₹414 crore last year)
  • Interest income: ₹162 crore (down from ₹281 crore in Q4FY24 and ₹202 crore in Q1FY24)
  • Standalone PAT: ₹72 crore (down from ₹78 crore in Q4FY24 and ₹145 crore last year)
  • Standalone revenue from operations: ₹134 crore (down from ₹141 crore in Q4FY24 and ₹215 crore last year)

Business Updates:

  • Partnered with 31 insurance companies to offer digital auto and two-wheeler insurance via the JioFinance app.
  • Launched Metro Cash & Carry for shopkeeper insurance.
  • Increased sales through its institutional channel.

Since its listing on August 21, 2023, Jio Financial shares have risen over 40%. Year-to-date, they have increased by 48%.

Is It a Good Time to Buy?

Osho Krishan, Senior Research Analyst at Angel One, notes that the stock has corrected from its high of ₹395. The overall trend remains positive, with ₹335 likely to provide support. If the stock falls further, it could drop to the ₹310-300 range. On the upside, ₹370 is a key resistance level, and a breakthrough here could renew investor interest.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

 

 

 

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