MAM
InMobi makes two senior appointments
MUMBAI: As part of its strategy to aggressively tap the mobile advertising space in India, Bangalore-based mobile advertising network InMobi has embarked upon its expansion plans. For this, the firm has appointed Sandeep Deshpande as the country general manager India and Vishal Nongbet as business head of brands.
InMobi has also opened up offices at New Delhi and Mumbai.
In his new role at InMobi Deshpande will be responsible for InMobi‘s business operations and growth in India.
InMobi is banking high on the opportunities available in the Indian market. With an increased penetration of smartphones across age groups and social strata, the mobile ad impressions too are witnessing an upsurge and the advertiser community is accepting this innovation. With the current mobile advertising market in India touching $25 million, it is expected to hit $60-80 million by 2014.
Deshpande has over two decades of experience in launching and growing new businesses. Prior to joining InMobi, he spent nearly a decade in the Internet industry, working for organisations like Yahoo, Alibaba.com and Rediff.com. He was instrumental in launching and growing Yahoo! search marketing, its small business and local search during his stint as general manager.
Deshpande also played a role in setting up Alibaba’s fully owned subsidiary in India during 2010-11 and building the Alibaba brand among SMEs in the local market.
Nongbet brings 13 years of varied experience in lifestyle and youth product marketing, largely in the fields of consumer goods and media and entertainment. A graduate from the Indian Institute of Management Ahmedabad, he started his career with Pepsi, followed by Times Music. He then moved to Kodak where he was instrumental in growing their digital businesses into a $30 million business after which he served as head of marketing and alliances at Mumbai Mantra, the filmproduction and distribution start-up of the Mahindra group. He then took on the role of marketing head at SMSGupshup, the mobile marketing start-up.
InMobi founder and CEO Naveen Tewari said, “With their unique blend of experience in technology, expertise in e-commerce and brand marketing capabilities, we are confident that both Sandeep and Vishal will play an important role in identifying new business opportunities and further expanding our operations in India.”
Deshpande said, “I do hope that my experience in setting up new business and in online marketing will help me take InMobi to new heights.”
Brands
Jio Financial Services posts Rs 1,560 crore FY26 profit
Revenue rises to Rs 3,513 crore as investments and lending scale up.
MUMBAI: If money makes the world go round, Jio Financial Services Limited is quietly spinning a much bigger wheel. The Reliance-backed financial arm reported a consolidated net profit of Rs 1,560.9 crore for FY26, slightly lower than Rs 1,612.6 crore in FY25, even as revenue growth gathered pace.
Total revenue from operations rose sharply to Rs 3,513.3 crore in FY26 from Rs 2,042.9 crore a year earlier, driven largely by a surge in interest income, which more than doubled to Rs 1,901.9 crore from Rs 852.5 crore. Fee and commission income also saw a significant jump to Rs 597 crore, compared to Rs 155.2 crore in FY25, reflecting expanding financial services activity.
For the March quarter, profit stood at Rs 272.2 crore, broadly flat compared to Rs 269 crore in the same period last year. Quarterly revenue from operations climbed to Rs 1,018.5 crore, up from Rs 493.2 crore year-on-year, signalling steady momentum in core income streams.
Expenses, however, moved in tandem with growth. Total costs nearly quadrupled to Rs 1,982.9 crore in FY26 from Rs 524.8 crore in FY25, with finance costs alone rising to Rs 745.1 crore from just Rs 7.7 crore a year earlier, reflecting increased borrowing and scale of operations. Employee expenses also grew to Rs 387.3 crore, while other expenses expanded to Rs 755 crore.
Profit before tax stood at Rs 1,911.7 crore for the year, slightly below Rs 1,946.9 crore in FY25. After accounting for a total tax outgo of Rs 350.8 crore, the company reported its final net profit figure.
Beyond the income statement, the balance sheet tells a story of rapid expansion. Total assets surged to Rs 1,63,497 crore as of March 31, 2026, up from Rs 1,33,510 crore a year earlier. Investments alone stood at Rs 1,33,088.7 crore, underscoring the company’s strong focus on treasury and financial asset growth.
However, the year also saw sharp volatility in other comprehensive income, which swung to a loss of Rs 16,028.3 crore, largely driven by fair value changes in equity instruments. This dragged total comprehensive income for FY26 to a negative Rs 15,756.1 crore, compared to a positive Rs 14,870 crore in FY25.
On the capital front, the company’s paid-up equity share capital remained steady at Rs 6,353.1 crore, with other equity rising to Rs 1,27,500.5 crore.
The numbers reflect a business in transition scaling rapidly across lending, investments and fee-based services, but also navigating the volatility that comes with mark-to-market movements in financial assets. In other words, while the top line is accelerating, the fine print still carries a few swings.
