MAM
FCB Kinnect elevates Elstan Rebello to executive vice president – South (branch head)
Mumbai: FCB Kinnect has announced the elevation of Elstan Rebello as executive vice president – South (branch head).
Elstan will now lead the South market, overseeing the creative, strategy, media, and account management departments, as well as manage P&L for this high-growth region.
Over his 4-year journey, Elstan has been instrumental in securing major clients such as TVS Motor Group, Titan, Intel, ITC Foods and Murugappa Group, among others. His exceptional client relationship skills have expanded the agency’s services by deepening and growing relationships with existing clients and adding new marquee clients to its portfolio.
Since joining FCB Kinnect in June 2020 as AVP – Account Management, Elstan has significantly contributed to building the culture of the Bengaluru-based office and growing the team to almost 100 Kinnectors.
With 16 years of industry experience, including roles at Network 18 and Condé Nast, Elstan’s strategic vision continues to drive FCB Kinnect’s success in the South market.
Speaking on the elevation, FCB Kinnect COO Chandni Mehta said, “As a truly integrated full-funnel agency, it is imperative for us to have an ambitious team leader to drive our momentum forward. Elstan’s ability to lead brands, deeply understand client requirements, and keep creativity at the core, aligns perfectly with our commitment to #OwnTheBrand. With his well-deserved elevation, we are excited to spearhead our market expansion and strengthen our relationships with existing clients in the South.”
FCB Kinnect EVP – South (branch head) Elstan Rebello added, “At Kinnect, the past 4 years have been defined by a relentless pursuit of excellence in communication integration. Leading initiatives across auto, luxury, FMCG, and technology sectors has been both challenging and immensely rewarding. As I step into this new role, my commitment remains steadfast: to propel us towards greater heights and amplify our impact through innovative and creative solutions.”
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.
