Jio Financial Services posted a net profit of ₹272.2 Cr for Q4 FY26, a 14% year-on-year decline from ₹316.1 Cr, even as operating revenue more than doubled to ₹1,018.5 Cr, a 107% YoY and 13% sequential jump. Total income, including ₹1.18 Cr in other income, reached ₹1,019.7 Cr for the quarter ending March 31, 2026. Sequentially, PAT edged up 1% from ₹269 Cr, suggesting the profit compression is primarily a year-on-year comparison effect. The divergence between revenue growth and profit trajectory is explained by a sharp 327% YoY surge in total expenses to ₹720 Cr. Cost scaling at that rate, outpacing even the 2x revenue expansion, signals aggressive investment in operations, lending infrastructure, or distribution as JFS builds out its financial services platform. The critical metric to track going forward is whether expense growth moderates as the business matures, allowing revenue gains to flow through to bottom-line improvement. Margin trajectory and the composition of the expense surge will be central to how investors price the stock near term.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
