Jio Platforms Limited (JPL), the digital and telecom services arm of Reliance Industries, reported a 13.7% year-on-year increase in consolidated net profit to ₹8,387 crore for the second quarter of financial year 2026-27 (Q2 FY27). The company had reported a net profit of ₹7,379 crore in the corresponding quarter last year. Revenue from operations increased 11.4% to ₹40,475 crore from ₹36,332 crore.
The September-quarter results mark Jio Platforms’ first financial performance announcement since its stock market debut on October 28, 2026. The company’s growth was supported by subscriber additions, increasing data consumption, higher average revenue per user (ARPU) and expansion in digital services. EBITDA also increased faster than revenue, indicating an improvement in operating performance.
Key Takeaways
- Net profit: ₹8,387 crore, up 13.7% year-on-year.
- Revenue from operations: ₹40,475 crore, up 11.4%.
- EBITDA: ₹21,879 crore, up 16.6%.
- EBITDA margin: 54.1%, compared with 51.6% a year earlier.
- ARPU: ₹218.8 per month.
- Subscriber additions: 9.1 million during the quarter.
- Customer base: 542.4 million.
- 5G subscribers: More than 300 million.
- Data consumption: 44.2 GB per customer per month.
Jio Platforms Q2 Profit Rises 13.7% to ₹8,387 Crore
Jio Platforms reported consolidated net profit of ₹8,387 crore for Q2 FY27, compared with ₹7,379 crore in Q2 FY26.
The company also recorded an approximately 8% sequential increase in profit from the June quarter, when it reported ₹7,764 crore.
Revenue from operations increased 11.4% year-on-year to ₹40,475 crore. On a sequential basis, revenue rose 3.3% from ₹39,173 crore in Q1 FY27.
The company attributed its revenue growth to subscriber additions, organic ARPU improvement and expansion in digital services.
Jio’s performance is significant because it represents the first quarterly results announcement following its listing on Indian stock exchanges. Its IPO raised approximately ₹30,213 crore, making it one of India’s largest public offerings.
The listing brought Jio Platforms into the public markets as a major standalone telecom and digital services company, giving investors more direct access to its financial performance.
Jio Platforms Q2 FY27 Financial Performance
| Financial metric | Q2 FY26 | Q2 FY27 | Growth |
|---|---|---|---|
| Revenue from operations | ₹36,332 crore | ₹40,475 crore | +11.4% |
| Net profit | ₹7,379 crore | ₹8,387 crore | +13.7% |
| EBITDA | ₹18,757 crore | ₹21,879 crore | +16.6% |
| EBITDA margin | 51.6% | 54.1% | +250 bps |
| Total income | ₹36,986 crore | ₹41,453 crore | +12.1% |
| Total expenses | ₹27,049 crore | ₹30,194 crore | +11.6% |
Figures are consolidated. Growth rates are year-on-year.
EBITDA growth exceeded revenue growth, helping the company expand its EBITDA margin by 250 basis points. This indicates that Jio generated more operating earnings from its revenue compared with the year-ago quarter.
However, total expenses also increased 11.6% to ₹30,194 crore. Depreciation and amortisation expenses rose to ₹7,611 crore, while finance costs increased to ₹3,009 crore.
ARPU Increases to ₹218.8 as Jio Adds 9.1 Million Subscribers
Average revenue per user (ARPU) is one of the most important financial indicators for telecom operators because it measures the average monthly revenue generated from each customer.
Jio Platforms reported ARPU of ₹218.8 per month in Q2 FY27.
The improvement was supported by a better subscriber mix and increased usage. However, promotional offers for fixed broadband customers partly offset the benefits, according to the company.
Jio also added 9.1 million net subscribers during the quarter, taking its customer base to 542.4 million.
Other important operating indicators included:
| Operating metric | Q2 FY27 |
|---|---|
| Total customer base | 542.4 million |
| Net subscriber additions | 9.1 million |
| ARPU | ₹218.8 per month |
| Monthly churn | 1.6% |
| Data consumption per customer | 44.2 GB per month |
| 5G subscriber base | More than 300 million |
| Fixed broadband connections | 30 million |
The combination of subscriber additions and higher data usage provides opportunities for Jio to increase revenue without relying exclusively on tariff increases.
5G and Broadband Expansion Support Digital Growth
Jio’s 5G business continues to be an important part of its growth strategy.
The company crossed 300 million 5G subscribers, strengthening its position in India’s rapidly expanding 5G market.
Higher data consumption also reflects the growing use of video streaming, digital payments, cloud applications, gaming and other internet-based services.
Jio reported monthly data consumption of 44.2 GB per customer, while total data traffic increased 22.1% year-on-year during the quarter.
Its fixed broadband business also continued to expand, with connections reaching 30 million.
Home broadband has become an important growth opportunity for telecom operators as households increasingly demand high-speed internet for entertainment, remote work, connected devices and digital services.
Jio is competing with Bharti Airtel and other internet service providers to expand its broadband presence across Indian cities and towns.
Digital Services Business Reports Double-Digit Growth
Beyond traditional telecom connectivity, Jio Platforms is expanding its digital services business.
The company reported 16% revenue growth in its digital services business, while connectivity revenue increased 11%.
Its digital ecosystem includes cloud services, enterprise connectivity, entertainment, digital applications and other technology-related offerings.
The company is also exploring artificial intelligence as an important area of future investment.
Managing Director Akash Ambani said Jio would continue investing in next-generation technologies, including satellite communications, 6G intellectual property and AI integrated into voice and data services.
These investments could help Jio move beyond its traditional telecom business and develop additional revenue opportunities from enterprise technology, digital platforms and AI-enabled services.
However, these areas will require sustained investment, and their contribution to revenue and profitability will become clearer over time.
Jio Reports Strong Free Cash Flow Generation
Cash generation was another important feature of Jio Platforms’ financial performance.
The company reported free cash flow of ₹32,130 crore during the first half of FY27, representing a 98% year-on-year increase.
Jio calculates this measure as EBITDA less cash capital expenditure.
Free cash flow provides an indication of how much cash a company generates from its operations after accounting for capital spending. It can help assess the company’s ability to fund future investments and manage financial obligations.
Strong cash generation is particularly important for a telecom operator because network expansion, spectrum requirements, technology upgrades and broadband infrastructure require significant investment.
The Bigger Picture
Jio Platforms’ first post-listing results demonstrate the financial scale of India’s largest telecom operator. The company increased profit by 13.7%, revenue by 11.4% and EBITDA by 16.6%. Its expanding 5G subscriber base, higher data consumption and broadband connections provide multiple sources of growth beyond traditional mobile connectivity.
The next challenge will be converting this scale into sustained revenue and cash-flow growth while continuing to invest in new technologies. Competition with Bharti Airtel, the cost of network expansion and the pace of ARPU improvement will remain important factors. Jio’s plans involving AI, satellite communications and 6G could create new opportunities, but their commercial impact will depend on execution and customer adoption.
Looking Ahead
Jio Platforms is entering its next phase as a publicly listed company with a large subscriber base, growing broadband operations and expanding digital services. Its management plans to continue investing in 5G, AI, satellite communications and 6G-related technologies. These investments could strengthen its position in India’s digital economy while creating opportunities in enterprise and consumer services.
Investors will closely monitor ARPU growth, subscriber additions, EBITDA margins, capital expenditure and free cash flow in the coming quarters. The company’s first post-listing results provide a strong view of its operating scale, but sustaining growth while maintaining profitability will be the central financial challenge.
Frequently Asked Questions
1. What was Jio Platforms’ profit in Q2 FY27?
Jio Platforms reported consolidated net profit of ₹8,387 crore in Q2 FY27, up 13.7% from ₹7,379 crore in the corresponding quarter last year.
2. What was Jio Platforms’ revenue in Q2 FY27?
Revenue from operations increased 11.4% year-on-year to ₹40,475 crore.
3. What is Jio’s ARPU in Q2 FY27?
Jio Platforms reported average revenue per user of ₹218.8 per month during the September 2026 quarter.
4. How many subscribers did Jio add in Q2 FY27?
Jio added 9.1 million net subscribers during the quarter, taking its total customer base to 542.4 million.
5. Why are these results important for Jio Platforms?
These are Jio Platforms’ first quarterly financial results since its stock market debut on October 28, 2026. They provide investors with an early view of the company’s financial performance as a separately listed entity.
6. What are Jio Platforms’ future investment priorities?
Jio plans to continue investing in 5G, satellite communications, 6G intellectual property and AI-enabled services, alongside its existing telecom and digital businesses.
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