Jio Financial Services Share Price: Jio Financial Services Ltd announced a 3% increase in net profit to Rs 689 crore in the second quarter ended September 2024. The business achieved a combined net profit of Rs 668 crore in the same quarter a year ago.
Gaurang Shah of Geojit Financial Services gave an optimistic long-term outlook for Jio Financial Services. (Image: Shutterstock/ET NOW News)
He emphasised the need of a one-and-a-half to two-year time horizon, highlighting the slow impact of regulatory approvals and commercial operations on the ground.
Jio Financial Services Share Price Target
Shah urged investors to keep their shares and consider raising their investments at specific levels. He urged that new investors with a long-term vision start accumulating shares.
“We do have positive coverage on Jio Financial Services from a long term point of view, and we all know the history of price discovery and the performance after that. As far as the time horizon is concerned, our sense is that you need to have at least one and a half, 2 year plus of, kind of time horizon”, Gaurang Shah Geojit Financial Services, said to ET NOW.
“So if you have that kind of a view, our advice would be to HOLD on to the stock primarily. And if case if it close closer to maybe Rs 300 or 280, if, you want to increase your investment, you can do that. And if somebody wants to do a fresh investment with a long term point of view, our advice would be to possibly start accumulating as well”, he added.
Jio Financial Services Q2 FY25 Results
Jio Financial Services Ltd announced a 3% increase in net profit to Rs 689 crore in the second quarter ended September 2024. The business achieved a combined net profit of Rs 668 crore in the same quarter a year ago.
Jio Financial Services stated in a regulatory filing that total revenues grew to Rs 694 crore, up from Rs 608 crore in the same period last year. However, overall costs quadrupled to Rs 146 crore, up from Rs 71 crore in the same period the previous year.
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