The Ministry of Corporate Affairs (MCA) has granted its approval for the appointment of Hitesh Kumar Sethia as the Managing Director and Chief Executive Officer of Jio Financial Services for a three-year period, effective from November 15, 2023.
In its latest quarterly results, Jio Financial Services reported a 5.8% year-on-year increase in consolidated net profit, reaching Rs 311 crore in the quarter ended March 2024 (Q4FY24), up from Rs 294 crore in the same quarter of FY23.
The company’s total income rose to Rs 418 crore in Q4FY24, compared to Rs 414 crore in Q4FY23. These were the first annual results for Jio Financial Services as a listed entity, as per Charanjit Attra, the company’s Chief Operating Officer.
For the full fiscal year FY24, the consolidated net profit surged to Rs 1,605 crore from Rs 31 crore in FY23, primarily driven by an increase in income and a higher share of net profit from associates, Attra explained. The total consolidated income grew to Rs 1,855 crore in FY24, up from Rs 44 crore in FY23.
Jio Financial Services’ stock closed 2.17% lower at Rs 370 per share on the Bombay Stock Exchange (BSE) following the announcement of its financial results.
As the company continues its growth trajectory, the appointment of Hitesh Sethia as the new MD and CEO, subject to regulatory conditions, is expected to provide strategic leadership and guidance for its future endeavors.
ACME Group has signed a binding agreement worth nearly $1 billion with the Japan's Mitsubishi…
State of Himachal Pradesh has achieved milestone to preserve its cultural and agricultural heritage after…
West Bengal's another three products got the GI Tag recognition for Chandannagar's Jalbhara Sandesh, Janai's…
The FIFA World Cup 2026, Round 32 already kicked off on 29th of June, 2026.…
The 2026 FIFA World Cup have already enter into the Round of 32 knockout part…
On 1st of July, 2026 nationwide rollout of new Viksit Bharat – Guarantee for Rozgar…