Jio Financial Services Ltd announced a decline in consolidated net profit for the third quarter ended December 2023. The company’s net profit stood at Rs 294 crore, a 56% decline compared to the previous quarter. Jio Financial Services, which is part of Reliance Industries Ltd, is involved in various financial services. The company has plans to enter the insurance segment and launch new products such as loans against property and home loans. Jio Financial Services has also approved the appointment of new executives. The company’s shares closed at Rs 266.80 per unit on the BSE, up 4.55%.