Full Year 2024 Jio Financial Services Ltd Earnings Call Transcript
Key Points
- Successful demerger from Reliance Industries Limited and listing on BSE and NSE.
- Robust governance, risk, and compliance framework established across the group.
- Strategic partnerships, including a 50-50 JV with BlackRock for asset management, wealth management, and broking business.
- Digital-first business model and unified app development for enhanced customer experience.
- Significant increase in consolidated profit after tax to INR1,605 crore for FY24 from INR31 crore in FY23.
- Technical difficulties during the earnings call, causing interruptions.
- Increase in total expenses, including staff costs and operating overheads, reflecting the setup of business operations.
- Dependency on regulatory and statutory approvals for the launch of new business lines.
- Challenges in ramping up business correspondent touchpoints for further growth in the payment bank segment.
- Potential risks associated with the rapid market developments and evolving business dynamics.
Good evening, everyone. My name is Jill Deviprasad and I'm Head of Investor Relations (technical difficulty) Jio Financial Services Limited. On the declaration of the results for the year ended (technical difficulty) 31, 2024 of the company, it gives me immense pleasure to welcome the analysts, investors and our colleagues to this virtual meeting.
We have with us today, our MD and CEO, Mr. Hitesh Sethia; and our Group Chief Operating Officer, Charanjit Attra. In this call, all participants will be in a listen only mode. The earnings presentation is uploaded on our website, www.jfs.in and on the stock exchanges.
Before I hand over the call, I would like to read out the Safe Harbor statement. Certain statements are forward-looking in nature. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual outcomes may vary materially from those included in these statements due to a variety of
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