Brands
Philips partners with Snitch to ‘Steam It Up’
MUMBAI: Showcasing an exciting blend of innovation and style, Philips home appliances, from the house of Versuni India has announced a retail partnership with Snitch, a popular men’s fashion brand, and launched “Steam It Up” — an exceptional in-store experience blending modern fashion with smart garment care. The collaboration aims to engage the audience across 12 Snitch stores in Bangalore, Mumbai, Delhi-NCR, Jaipur, and Ahmedabad.
As the official Garment Care Partner for Snitch, Philips home appliances brings its innovation-led STH5000 Garment Steamer range into the lifestyle space. Known for its vibrant colors, sleek design and travel-friendly body, the garment steamer is designed for today’s fashion-forward generation— aligning perfectly with the high-energy, expressive aesthetics that define Snitch.
Extending an engaging and value-added customer experience, the activation makes Snitch’s walk-in customers experience Philips’ latest range of handheld garment steamers—a product designed to make daily fashion care easier, quicker, and more effective.
The campaign kicks off with a pan India activation across Snitch stores, including select in-store setups where customers can design Snitch outfit looks, steam them up with the Philips STH5000 garment steamer, and post their styled photos on social media to participate in an exciting daily contest. Every day, one lucky winner will receive a Philips garment steamer and Snitch’s exclusive fragrance set.
“We wanted to create an experience that seamlessly weaves garment care into the fashion narrative. The Philips garment steamer is the perfect everyday solution for your garment care needs. This partnership with Snitch is a celebration of individuality, functionality and style—values that deeply resonate with today’s Gen Z audience,” said Versuni India CMO Pooja Baid.
Philips home appliances and Snitch are working together to create a unified consumer experience – covering everything from high-tempo fashion to effective garment care. This is the beginning of a long-term strategic partnership that will engage a new-age consumer relating to style, utility, and lifestyle. It combines the legacy retail expertise of Philips with the new-age content driven retail expertise that Snitch offers.
“At Snitch, we’re always looking to create engaging in-store experiences that go beyond shopping. This collaboration with Philips brings together two brands focused on smart, stylish everyday living. It’s our way of adding a little more ease, energy, and excitement to our customers’ fashion journey,” said Snitch founding member and CMO Chetan Siyal.
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.
