JFS’ Profitability Flex, Reo.Dev Bags $11 Mn & More
Jio Financial Services reported a net profit of ₹830.3 crore for Q1 FY27, a 2.6-fold increase year-on-year, driven by a robust lending engine despite rising expenses. Operating revenue surged 227% to ₹2,005 crore, while total expenses rose 291% to ₹1,015.8 crore as the company pursued its super app vision. Meanwhile, AI-led startup Reo. Dev raised ₹109 crore in a Series A round to enhance its sales and marketing efforts in the US and boost product development.