- REVENUE MOMENTUM: Operating revenue rises 11.4% to ₹40,475 crore as subscriber additions, higher ARPU and digital services drive growth
- PROFITABILITY BOOST: EBITDA climbs to ₹21,879 crore, with margins expanding 250 basis points year-on-year
- 5G POWERHOUSE: Subscriber base crosses 300 million as fixed broadband reaches 30 million connections
- IPO MILESTONE: ₹30,188-crore public issue becomes India’s largest to date, with ₹27,500 crore earmarked for repayment of borrowings
- AI-LED FUTURE: Akash M. Ambani signals continued investment in artificial intelligence, satellite communications and 6G intellectual property
NE BUSINESS BUREAU
MUMBAI, OCT 31
Jio Platforms has turned its scale in connectivity into a powerful earnings engine, delivering double-digit growth in revenue and profit while crossing major 5G and broadband milestones and completing a record-breaking public issue. Its September-quarter performance underscores the growing contribution of digital services, rising data consumption and operating leverage as the company looks beyond conventional telecom connectivity towards artificial intelligence and next-generation technologies.
Jio Platforms Limited reported consolidated gross revenue of ₹47,485 crore for the second quarter of FY27, up 11.3% year-on-year, while revenue from operations rose 11.4% to ₹40,475 crore. EBITDA increased 16.6% to ₹21,879 crore, outpacing revenue growth, as operating leverage and a 250-basis-point improvement in EBITDA margin strengthened profitability.
Consolidated profit after tax, including the share of profit or loss from associates and joint ventures, climbed 13.7% to ₹8,387 crore, compared with ₹7,375 crore in the corresponding quarter last year.
The results, approved by the company’s Board on October 30, come just days after Jio Platforms’ equity shares were listed on the National Stock Exchange and BSE on October 28, following an initial public offering that raised ₹30,188 crore—the largest IPO in India to date, according to the company’s announcement.
Profit growth outpaces revenue
Jio Platforms’ operating performance strengthened across the key financial indicators. EBIT rose 18.1% year-on-year to ₹14,268 crore, while the EBIT margin expanded by 200 basis points to 35.3%.
For the first half of FY27, gross revenue reached ₹93,446 crore, compared with ₹83,706 crore a year earlier. Revenue from operations increased to ₹79,648 crore from ₹71,364 crore, while EBITDA advanced to ₹42,744 crore from ₹36,892 crore.
Profit after tax for the six months ended September 2026 stood at ₹16,151 crore, against ₹14,485 crore in the year-ago period.
The company reported EBITDA less cash capital expenditure of ₹32,130 crore in the first half, nearly double the ₹16,216 crore recorded in the corresponding period last year. This measure reflects the company’s reported EBITDA after cash capital expenditure, rather than operating cash flow.
Quarterly EBITDA less cash capital expenditure rose 52.5% year-on-year to ₹15,449 crore.
Subscriber scale and data consumption rise
Jio Platforms’ customer base expanded to 542.4 million at the end of September 2026, adding 9.1 million customers during the quarter. Net additions over the trailing 12 months stood at approximately 36.2 million.
Monthly average revenue per user (ARPU) rose to ₹218.8 from ₹211.4 a year earlier, a 3.5% increase. The company attributed the improvement to a better subscriber mix and increased usage, partly offset by promotional schemes for fixed broadband customers.
Data consumption continued to accelerate. Total quarterly data traffic increased 22.1% year-on-year to 71.3 billion GB, while average monthly data consumption per customer climbed 14.2% to 44.2 GB.
Monthly churn remained stable at 1.6%, compared with 1.9% in the year-ago quarter.
The figures underline the importance of higher usage and customer engagement alongside subscriber growth in sustaining revenue momentum.
5G and broadband reach new milestones
Jio’s 5G mobility subscriber base crossed 300 million in September 2026, an increase of 66 million over the preceding 12 months. The company said 5G accounted for approximately 56% of total wireless traffic, highlighting the growing role of next-generation connectivity in its network.
Its fixed broadband subscriber base reached 30 million, adding 7.3 million customers over the last year. Jio AirFiber, with 15.1 million subscribers, accounted for more than 75% of Jio’s fixed broadband additions during the period.
These milestones strengthen the company’s position across mobile connectivity and home broadband, two segments central to its strategy of expanding digital services and increasing customer engagement.
Record IPO recasts capital strategy
Jio Platforms’ ₹30,188-crore IPO was completed through a fresh issue of 270 million equity shares with a face value of ₹10 each, priced at ₹1,119 per share. The company said the gross proceeds, after accounting for an employee discount of ₹54 per share, aggregated ₹30,188 crore.
Of the net proceeds, ₹27,500 crore has been used to prepay, in full or in part, certain external commercial borrowings of Reliance Jio Infocomm Limited, its material subsidiary. The balance is intended for general corporate purposes, in line with the IPO prospectus.
The company reported net leverage of 0.10 times at the end of September 2026, compared with 0.55 times a year earlier. The IPO and debt prepayment mark an important development in its capital structure as it continues investing in network infrastructure and digital capabilities.
Akash Ambani sets sights on AI and 6G
Akash M. Ambani, Managing Director of Jio Platforms Limited, welcomed the company’s new shareholders and linked the latest results to its investments in network infrastructure and digital services.
“We warmly welcome our new shareholders to the Jio Platforms family as we enter a new era as a listed company. This quarter’s results continue to reflect the strength of our 5G network, and the growing reach of our broadband and digital services,” he said.
He added: “Ahead of the curve investment on next generation technologies has been the foundation of Jio’s success over the past decade. We would continue to build our capabilities across satellite communications, 6G intellectual property and AI embedded in our core voice and data services as we create lasting value for all our stakeholders.”
Jio also showcased AI-enabled offerings at India Mobile Congress 2026. These included Jio Call Agent, designed to transcribe and summarise calls, and JioFrames, AI-native smart camera frames featuring voice assistance, hands-free calling, live translation across 12 languages and UPI payments.
The company also introduced JioShield, a family-safety application with features including location and SOS alerts, screen-time and application controls, and low-battery notifications.
As Jio Platforms enters its listed-company phase, the combination of growing earnings, a large customer base and investments in AI, satellite communications and 6G will be central to how it seeks to convert its connectivity leadership into broader digital-services growth.