Jio Platforms has passed its first big test as a listed company, and it has done so in style. The telecom and digital services giant on Friday reported a 13.7 percent rise in consolidated net profit to Rs 8,389 crore for the September quarter, its first earnings announcement since its blockbuster stock market debut earlier this week.
Revenue from operations grew 11.4 percent to Rs 40,475 crore, up from Rs 36,332 crore in the same quarter last year. The numbers, announced on October 30, show a business that is still adding customers at a rapid pace, earning a little more from each of them, and turning that growth into stronger profits.
A strong debut quarter, by the numbers
Net profit rose to Rs 8,389 crore from Rs 7,379 crore a year earlier, and also improved 8 percent over the June quarter’s Rs 7,765 crore. Revenue climbed 3.3 percent sequentially from Rs 39,173 crore.
Operating profit, measured as EBITDA, jumped 16.6 percent year on year to Rs 21,879 crore, with the EBITDA margin widening 250 basis points to 54.1 percent. In plain terms, Jio kept more of every rupee of revenue as profit, helped by operating leverage as its network carries more traffic without a matching rise in costs.
Connectivity revenue grew 11 percent during the quarter, while digital services grew 16 percent, a sign that the newer parts of the business are now pulling their weight alongside the core mobile operation.
542 million subscribers, and counting
The engine behind the numbers remains subscriber growth. Jio ended September with 542.4 million subscribers, up 7.1 percent from 506.4 million a year earlier. It added 9.1 million net subscribers in the quarter alone, while monthly churn stayed low at 1.6 percent, slightly better than the 1.9 percent recorded a year ago.
Two milestones stood out. Jio crossed 300 million 5G mobility subscribers, adding 66 million 5G users over the past 12 months, and it crossed 30 million fixed broadband subscribers. Its AirFiber wireless home broadband service now has 15.1 million subscribers and has driven more than three quarters of fixed broadband additions over the last year.
Average revenue per user, the industry’s key measure of how much each customer pays every month, rose to Rs 218.8 from Rs 211.4 a year earlier and Rs 215.6 in the June quarter. The company said a better subscriber mix and higher usage lifted ARPU, partly offset by promotional schemes for fixed broadband customers.
Akash Ambani’s first earnings call
The results also marked a milestone for Managing Director Akash Ambani, who addressed investors on a quarterly results call for the first time. He said the IPO broke records across investor categories despite challenging market conditions and foreign fund outflows, and added that the company expects to create even greater value over the next decade than it did in its first ten years.
That confidence is backed by the IPO itself. Jio Platforms listed on October 28 after raising Rs 30,188 crore, described as India’s largest public offering. Of that, Rs 27,500 crore has been used to prepay certain external commercial borrowings of its subsidiary Reliance Jio Infocomm.
What this means for investors and customers
For shareholders, the debut quarter answers the most important question after any big listing: was the IPO price built on real earnings, or just excitement? A 13.7 percent profit rise, a widening margin and steady subscriber additions suggest the earnings engine is real. For customers, the broadband push led by AirFiber suggests the next battleground is the home, not just the handset.
There are things to watch. ARPU growth remains gradual, promotional broadband offers are still weighing on realisations, and higher finance costs linked to 5G asset capitalisation have partly offset EBITDA growth. But none of that changes the shape of this quarter: growth on every major operating metric, and profit growth ahead of revenue growth.
Key takeaways from Jio’s Q2 FY27 results
- Net profit up 13.7 percent year on year to Rs 8,389 crore; revenue up 11.4 percent to Rs 40,475 crore.
- EBITDA up 16.6 percent to Rs 21,879 crore; margin expanded to 54.1 percent.
- Subscriber base at 542.4 million, with 9.1 million net additions in the quarter.
- ARPU rose to Rs 218.8 per month, from Rs 211.4 a year earlier.
- 5G subscribers crossed 300 million; fixed broadband subscribers crossed 30 million.
- First results since the October 28 listing, after a Rs 30,188 crore IPO.
FAQs
What was Jio Platforms’ profit in Q2 FY27?
Consolidated net profit rose 13.7 percent year on year to Rs 8,389 crore for the July-September 2026 quarter.
How much revenue did Jio Platforms earn in Q2 FY27?
Revenue from operations grew 11.4 percent to Rs 40,475 crore, up from Rs 36,332 crore in the same quarter last year.
How many subscribers does Jio have now?
Jio ended September 2026 with 542.4 million subscribers, including more than 300 million 5G mobility subscribers.
What is Jio’s ARPU in Q2 FY27?
Average revenue per user rose to Rs 218.8 per month, compared with Rs 211.4 a year earlier and Rs 215.6 in the June quarter.
When did Jio Platforms list on the stock market?
Jio Platforms listed on October 28, 2026, after raising Rs 30,188 crore in what was described as India’s largest IPO. The September quarter results were its first since listing.
Jio’s first report card as a listed company is a strong one. The next test will be whether it can keep up this pace in the December quarter.
