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Submission Details • Date of submission: July 16, 2024 • Presentation date: July 15, 2024 • Conclusion time: 7:35 p.m. IST • Submitted to: BSE and NSE • Signed by: Mohana V, Group Company Secretary and Compliance Officer
Key Highlights from the Earnings Call • CEO Insights • Launch of the Jio Finance App with ~500,000 downloads. • Introduction of new lending products: Loan Against Mutual Funds and Home Loans. • Commencement of operating lease business with strong shareholder support. • Regulatory approval to convert from NBFC to Core Investment Company.
• Jio Payments Bank • Over 1 million CASA accounts established. • Expansion of physical distribution network via 16,000 Business Correspondent outlets. • Focus on enhancing digital and physical banking solutions.
Jio Payment Solutions Limited (JPSL) • Payment aggregation platform for enterprise and delivery merchants. • Offers QR codes and POS devices supporting 100+ payment options. • Innovations include embedded payments and tailored POS solutions for home delivery.
Jio Insurance Broking Limited • Establishing a digital distribution channel for various insurance products. • Received regulatory approvals for online policy sales. • Plans to expand offerings and integrate insurance solutions into customer journeys.
Asset Management • Partnership with Blackrock focusing on advanced technology and regulatory compliance.
Financial Performance • Slight increase in profit after tax and total income for Q1 FY25. • Emphasis on optimizing cost-to-income ratios and leveraging technology.
Commitment to Customers • Focus on democratizing financial services and enhancing accessibility. • Goals include improving affordability, financial literacy, and customer prosperity. • Expression of gratitude for ongoing support and an invitation to review the detailed earnings presentation online.
Presentation Overview • Date of submission: April 23, 2024 • Presentation date: April 19, 2024 • Conclusion time: 7:28 PM IST • Compliance: Transcript recorded as per SEBI regulations • Signed by: V Mohana, Group Company Secretary and Compliance Officer
Company Progress Post-Demerger • Demerger from Reliance Industries: August 2023 • CEO Hitesh Sethia's highlights: • Establishment of foundational structures: • Non-banking financial company (NBFC) • Payment bank • Payment aggregator • Insurance broking entity • Focus on digital-first approach • Plans for new lending products and unified customer service app
Financial Performance • FY24 consolidated profit after tax: Rs. 1,605 crore (up from Rs. 31 crore in FY23) • Standalone profit after tax: Rs. 383 crore • Total income: Rs. 1,855 crore (mainly from interest and investment gains) • Total expenses: Increased due to staff costs and operational overheads
Risk Management and Growth Strategy • Robust risk management frameworks • Integration of machine learning for customer selection • Key strengths for sustainable growth: • Jio brand • Capital • Customer adjacency from ecosystem • Commitment to reputation, regulatory adherence, and capital returns
Standalone Financials • Standalone profit after tax for Q4 FY24: Rs. 78 crore (up from Rs. 71 crore in previous quarter) • Total expenses for standalone account: Rs. 117 crore (up from Rs. 6 crore) • Standalone net worth as of March 31, 2024: Rs. 24,437 crore
Conclusion • The call concluded with a reminder to access the earnings presentation on the company's website.
Presentation Details • Date: January 17, 2024 • Transcript of unaudited financial results for Q3 and nine months ending December 31, 2023 • Presentation Date: January 15, 2024 • Compliance with SEBI regulations • Signed by V Mohana, Group Company Secretary and Compliance Officer
Key Executives and Discussion • Executives Present: MD & CEO Hitesh Sethia, COO Charanjit Attra • Performance Highlights: • Positive macroeconomic environment in India • Growth opportunities from demographics and digital advancements • Completion of a digital sandbox for consumer loans • Focus on secured lending and new operating lease model for consumer devices • Plans for supply chain financing solution
Strategic Initiatives • Expansion of insurance broking partnerships • Enhancements in payments bank services: • Revamped digital savings account • Improved merchant solutions • Governance updates: • Reconstitution of the Board of Directors • Integration of ESG principles • Transitioning from NBFC to Core Investment Company • Filed for regulatory approvals for asset management joint venture with Blackrock
Financial Highlights • Prepared under Indian Accounting Standards • Structure includes subsidiaries: Jio Finance, Jio Insurance Broking, Jio Payment Solutions • Consolidated profit after tax: • Rs 1,294 crores for nine months • Rs 294 crores for the quarter • Standalone profits: • Rs 305 crores for nine months • Rs 71 crores for the quarter • Focus on expanding secured lending, leasing, and supply chain financing • Workforce growth to 516 employees • Consolidated pre-provisioning operating profit: Rs 1,212 crores for nine months • Decrease in quarterly profit due to higher operating expenses and lack of dividend income • Increase in interest income; decrease in net gains on fair value changes
Conclusion • Reminder to access the earnings presentation online.
Jio Financial Services Limited Earnings Call Summary
• Date and Compliance • Presentation on unaudited financial results for Q3 and nine months ending December 31, 2023. • Conducted on January 15, 2024, and submitted on January 17, 2024. • Compliance with SEBI regulations confirmed by V Mohana, Group Company Secretary.
• Economic Outlook and Business Focus • MD & CEO Hitesh Sethia highlighted a positive economic outlook for India. • Emphasis on: • Secured lending. • New operating lease model for consumer devices. • Development of supply chain financing solutions. • Opportunities in lending against shares and mutual funds. • Expansion of insurance partnerships and digital savings accounts.
• Company Transition and Regulatory Approvals • Transitioning from NBFC to Core Investment Company. • Filed for regulatory approvals for asset management joint venture with Blackrock. • Commitment to democratizing financial services and maintaining governance standards.
• Financial Highlights • COO Charanjit Attra discussed: • Structure and subsidiaries involved in lending, insurance broking, and payment solutions. • Consolidated profit after tax for nine months: Rs 1,294 crores. • Standalone profit: Rs 305 crores. • Planned launch of leasing and supply chain financing business. • Workforce growth to 516 employees and completed technology stack.
• Key Financial Metrics • Consolidated pre-provisioning operating profit: Rs 1,212 crores for the nine-month period. • Increase in interest income noted. • Rise in operating expenses due to one-time costs for capability building and CSR activities.
• Conclusion • Reminder to access the earnings presentation on the company’s website.
Presentation Overview • Date: October 19, 2023 • Focus: Unaudited financial results for Q2 and half-year ending September 30, 2023 • Key Executives: • Mr. Hitesh Sethia (President & CEO) • Mr. Charanjit Attra (Group COO) • Audience: Analysts and investors • Safe Harbor Statement: Forward-looking statements subject to uncertainties • Availability: Earnings presentation on the company's website
Company Background • Demerger from Reliance Industries Limited: Finalized on June 28, 2023 • Listing Date: August 21, 2023 • Subsidiaries: • Non-banking financial company (NBFC) • Payment bank • Payment aggregator • Insurance broking entity
Strategic Initiatives • Goal: Democratize financial services through innovative digital products • Focus Areas: • Borrowing • Investment • Transaction • Insurance • Core Principles: Reputation, regulatory adherence, capital returns • Future Plans: • Jio Finance Limited to offer diverse loan products using technology • Development of payment capabilities and insurance products • Launch of an asset management company in partnership with BlackRock
Financial Highlights (Q2 FY2024) • Consolidated Profit After Tax: Rs. 668 crores (up from Rs. 332 crores in Q1) • Consolidated Net Worth: Rs. 1.16 lakh crores • Standalone Profit After Tax: Rs. 89 crores (down from Rs. 145 crores in Q1) • Total Consolidated Assets: Rs. 1,19,598 crores • Investments: Significant growth across business verticals
Conclusion • Mr. Attra expressed gratitude for support and commitment to sustainable returns • Call concluded by Mr. Saurabh Rajderkar thanking participants
Presentation Overview • Date: October 19, 2023 • Focus: Unaudited financial results for Q2 and half-year ending September 30, 2023 • Key Executives: • Mr. Hitesh Sethia (President & CEO) • Mr. Charanjit Attra (Group COO) • Audience: Analysts and investors • Safe Harbor Statement: Forward-looking statements subject to uncertainties • Availability: Earnings presentation on the company's website
Company Background • Demerger from Reliance Industries Limited: Finalized on June 28, 2023 • Listing Date: August 21, 2023 • Subsidiaries: • Non-banking financial company (NBFC) • Payment bank • Payment aggregator • Insurance broking entity
Strategic Initiatives • Goal: Democratize financial services through innovative digital products • Focus Areas: Borrowing, investment, transaction, and insurance needs • Emphasis on: Reputation, regulatory adherence, and capital returns • Upcoming Launch: Asset management company in partnership with BlackRock, initial investment of $150 million
Financial Highlights (Q2 FY2024) • Consolidated Profit After Tax: Rs. 668 crores (up from Rs. 332 crores in Q1) • Consolidated Net Worth: Rs. 1.16 lakh crores • Standalone Profit After Tax: Rs. 89 crores (down from Rs. 145 crores in Q1) • Total Consolidated Assets: Rs. 1,19,598 crores • Future Plans: Application for conversion to a Core Investment Company (CIC)
Conclusion • Mr. Attra expressed gratitude for support and commitment to sustainable returns • Call concluded by Mr. Saurabh Rajderkar thanking participants