Jio Financial shares fall 7% post Q3 earnings
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New Delhi: Shares of Jio Financial Services Ltd on Tuesday fell by nearly seven per cent after the company reported a 56 per cent decline in consolidated net profit at Rs294 crore for the third quarter ended December 2023, compared to the previous quarter.
The stock declined 6.71 per cent to settle at Rs248.90 apiece on the BSE. During the day, it tumbled 7.60 per cent to Rs246.50. On the NSE, it declined 6.48 per cent to Rs249.45 per share.
The company’s market valuation eroded by Rs11,372.38 crore to Rs1,58,133.24 crore. In volume terms, 95.44 lakh shares of the company were traded on the BSE and over seven crore shares exchanged hands on the NSE during the day. The company had earned a consolidated net profit of Rs 668 crore in the second quarter of the current fiscal, Jio Financial Services said in a regulatory filing on Monday.
