Jio Financial Services says its Q2 profit doubled from previous quarter

India’s Jio Financial Services (JFS) on Monday said its second-quarter profit doubled from the previous quarter, in its first earnings report after being carved out from billionaire Mukesh Ambani’s Reliance Industries and listed on stock exchanges.

Consolidated profit after tax for the three months ended September 30, which includes share of profits of associates and joint venture, rose to 6.68 billion rupees ($80.27 million) from 3.32 billion rupees in the April-June quarter, JFS said in a regulatory filing.

Profit on a standalone basis stood at 887.6 million rupees, compared to 20.3 million rupees a year ago.