Analysts/Institutional Investor Meet/Con. Call Updates

October 22, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Plot No. C/1, G Block, Bandra-Kurla Complex, Mumbai 400 001 Bandra (East), Mumbai 400 051 Scrip Code: 543940 Trading Symbol: JIOFIN Dear Sirs, Sub: Transcript of Presentation on Unaudited Financial Results (Consolidated and Standalone) for the quarter and half year ended September 30, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transcript of the presentation made to analysts on October 15, 2026, on the Unaudited Financial Results (Consolidated and Standalone) of the Company for the quarter and half year ended September 30, 2026, is attached and also available on the Company’s website at https://www.jfs.in/financials/?doc=quarterly-results. The presentation concluded at 8.10 p.m. (IST) on October 15, 2026. This is for information and records. Thanking you, Yours faithfully, For Jio Financial Services Limited Mohana V Group Company Secretary and Compliance Officer Encl: a/a Jio Financial Services Limited Registered Address: 1st Floor, Building 4NA, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai - 400051, India +91 22 3555 4094 | www.jfs.in | investor.relations@jfs.in | CIN: L65990MH1999PLC120918 Jio Financial Services Limited Q2 2026 – 2027 Analyst Call Transcript Call Participants: Mr. Hitesh Sethia, MD & CEO – Jio Financial Services Limited Ms. Annapoorna Venkataramanan, Group Executive & Chief Financial Officer – Jio Financial Services Limited Mr. Ganesh A R, Group Executive & Chief Technology Officer – Jio Financial Services Limited Mr. Dipak Daga, Group Chief Strategy Officer and & Chief Investor Relations Officer – Jio Financial Services Limited Transcript: Mr. Dipak Daga (0:20): Good evening, everyone. It gives me immense pleasure to welcome all of you to the Q2 FY27 earnings conference call of Jio Financial Services Limited. My name is Dipak Daga and I am the Group Chief Strategy Officer and Chief Investor Relations Officer of Jio Financial Services. On the call with us today, we have Mr. Hitesh Sethia, Managing Director and Chief Executive Officer of Jio Financial Services Limited, who will take us through the Company’s overall financial performance during the quarter and six months ended September 30, 2026. We are also joined by Mr. Ganesh A R, Group Executive and Chief Technology Officer who will take us through our Data and AI initiatives, along with the operating performance of our Lending and Payments businesses. We are also joined by Ms. Annapoorna Venkatramanan, Group Executive and Chief Financial Officer who will then walk us through the operating performance of our Investments and Insurance businesses, followed by the financial performance of Jio Financial Services Limited. The earnings presentation for the quarter has been uploaded on our website, www.jfs.in, as well as on the stock exchanges. I would like to remind all participants that this call will be conducted in a listen-only mode. Before I hand over the call, I would like to read out the Safe Harbor statement. This presentation contains forward-looking statements which may be identified by their use of words like plans, expects, estimates or other words of similar meaning. All statements that address expectations or predictions about the future, including, but not limited to, statements about strategy for growth, product development, market position are forward statements based on rationale and data. Actual results may vary materially given the market circumstances. I will now hand over the call to Hitesh to discuss our business in detail. Mr. Hitesh Sethia (2:16): Thank you Dipak. Good evening, everyone. Season’s greetings and a very warm welcome to our earnings conference call for the second quarter of fiscal 2027. During Q2 FY27, we made further progress towards our goal of bringing new-age, hyper-personalised financial services to the people of India. Our objective of bringing in truly customer-centric innovation to financial services was evident this quarter through some industry-first initiatives that were rolled out on the JioFinance app, which will redefine the way people experience and engage with their finances. This period was also marked by the further scale-up of our businesses, expansion of our pan-India, omnichannel distribution network, and significant developments in our strategy of bringing world-class financial services to India, in collaboration with marquee global partners. Our business performance for the quarter reflects strong operational velocity across all our business lines, with our core operations continuing to build scale and drive performance across verticals. In our lending business, Jio Credit‘s Gross Assets Under Management rose to Rs. 37,320 crore as of September 30, 2026, representing a 154% year-on-year growth and a steady sequential expansion over Q1 FY27. In payments, Jio Payments Bank expanded its customer deposit base to Rs. 643 crore, up 53% year-on-year across 40 lakh CASA accounts. At Jio Payment Solutions, Total Payment Value, or TPV, stood at Rs. 14,682 crore. The quarter-on-quarter adjustment in TPV was a deliberate outcome of our strategic pivot towards margin-accretive merchant segments. While this focus led to planned customer churn in lower-margin segments, it helped us realise higher net processing margins, giving us a base to grow volumes further with strong unit economics. In asset management, JioBlackRock AMC saw its Closing AUM reach Rs. 22,746 crore, growing 57% year-on-year and 24% sequentially. In insurance broking, Jio Insurance Broking Limited facilitated total premiums of Rs. 346 crore. Our reinsurance business, Allianz Jio Reinsurance Limited underwrote Rs. 244 crore in Gross Written Premium. This sequential moderation was driven by primary insurers recalibrating their exposure on account of crop insurance to align with current seasonal and environmental factors. This broad-based performance underscores our strategic focus on driving disciplined, quality-led expansion while building operating leverage across our full-stack financial ecosystem. Our financial performance during the second quarter and the first half of Fiscal Year 2027 reflects our consistent operational strength across our core operating businesses. As we had highlighted during our Q1 FY27 earnings call, a key accounting change effected this financial year is the full consolidation of Reliance Services and Holdings Limited, or RSHL, as a 100% step-down subsidiary of the company, through Reliance Industrial Investments and Holdings Limited, or RIIHL. This was with effect from April 29, 2026 and consequently, RSHL's financials are now consolidated on a line-by-line basis with the company. It is also pertinent to point out JFS receives dividends each year, including from Reliance Industries Limited on account of its shareholding in the company, held through RIIHL and RSHL. In the fiscal year ended March 2026, this dividend was paid in the second quarter; whereas in the current fiscal, this dividend was paid in the first quarter. Excluding the impact of dividend in Q2 FY26, Consolidated Total Income grew 132% year-on-year to Rs. 1,699 crore for Q2 FY27; Pre-Provisioning Operating Profit reached Rs. 574 crore, registering a 85% growth year-on-year. Consolidated Profit Before Tax, excluding this dividend impact, increased 51% year-on-year to Rs. 489 crore for the quarter. Profit after tax for the quarter stood at Rs. 340 crore. For the six months ended September 2026, excluding dividend, Consolidated Total Income increased 136% year-on-year to Rs. 3,195 crore; Pre-provisioning operating profit was up 60% year-on-year to Rs. 1,079 crore; and Consolidated profit before tax increased to Rs. 951 crore, up 33% year-on-year. Profit after tax for this period stood at Rs. 1,171 crore. Crucially, our core operating entities continue to anchor our ov [Showing first 8,000 characters — download PDF for full document]