Jio Platforms Reports 13.7% Profit Growth in Q2 FY27 as Subscriber Base and ARPU Rise

Jio Platforms reported a 13.7% year-on-year increase in consolidated net profit for the September 2026 quarter, supported by subscriber additions, higher average revenue per user (ARPU), and continued growth in digital services.

The company’s net profit attributable to its owners rose to Rs 8,389 crore in Q2 FY27, compared with Rs 7,379 crore in the corresponding quarter last year. Revenue from operations increased 11.4% year-on-year to Rs 40,475 crore, according to its regulatory filing.

The results mark Jio Platforms’ first quarterly earnings announcement since its stock market debut earlier in the week. They also represent the first quarterly results briefing addressed by Managing Director Akash Ambani.

Growth Across Connectivity and Digital Services

Jio Platforms attributed its revenue growth to a combination of rising subscriber numbers, improved ARPU, and strong performance in digital services.

Revenue from connectivity services grew 11% during the quarter, while digital services revenue increased 16%. The company’s total subscriber base expanded 7.1% year-on-year to 54.24 crore, up from 50.64 crore a year earlier. It added 91 lakh subscribers during the September quarter.

Monthly ARPU climbed to Rs 218.8, compared with Rs 211.4 in the year-ago quarter and Rs 215.6 in the June 2026 quarter. The metric reflects the average monthly revenue generated per user and is an important indicator of a telecom operator’s ability to monetise its customer base.

Average monthly data consumption per user also rose 14.2% year-on-year to 44.2 GB.

Jio crossed the 30-crore mark for 5G subscribers during the quarter, adding 6.6 crore users over the past 12 months. According to the company, 5G accounted for nearly 56% of its total wireless data traffic, highlighting the growing adoption of its next-generation network.

Home Broadband and Data Usage Expand

Jio’s fixed broadband business continued to grow, with its subscriber base reaching 3 crore during the quarter.

The company said its Jio AirFiber service had accumulated 1.51 crore subscribers and accounted for more than 75% of its fixed broadband additions over the preceding 12 months.

Overall data traffic increased 22.1% year-on-year to 71.3 billion GB in the September quarter, reflecting sustained demand for mobile internet and digital services.

Akash Ambani said the latest results demonstrated the strength of Jio’s 5G network and the expanding reach of its broadband and digital offerings. He added that the company would continue investing in satellite communications, 6G intellectual property, and artificial intelligence integrated into its core voice and data services.

Enterprise and International Markets Offer Further Opportunities

Beyond its consumer connectivity business, Jio Platforms is looking to expand its presence in enterprise services and selected international markets.

Akash Ambani identified mobility, home broadband, enterprise solutions, and international opportunities as key drivers of the company’s future growth. He said Jio intended to use the technology platform and infrastructure it had developed to pursue opportunities across these segments.

Small and medium-sized businesses in India represent a particularly important market, Ambani said. Jio plans to focus on attracting enterprise customers to its network while expanding the services it provides to businesses.

For international expansion, the company intends to be selective about the markets it enters. Rather than simply selling its proprietary technology as hardware or software licences, Jio aims to work with customers as a managed-services partner.

The company believes this approach could allow it to extend its technology capabilities into new markets while building additional sources of revenue.

Ambani also highlighted Jio’s financial position, saying the company had a clear path towards further growth and improving profitability, supported by a strong balance sheet even before the proceeds from its initial public offering.

Net Debt Falls Sharply

Jio Platforms reported a substantial reduction in net debt during the quarter. Net debt fell 78.6% year-on-year to Rs 8,822 crore, compared with Rs 41,161 crore in the September quarter of the previous year.

On a sequential basis, net profit increased 8% from Rs 7,765 crore in the June quarter. Revenue from operations rose 3.3% from Rs 39,173 crore over the same period.

The improvement in financial performance comes as the company seeks to strengthen its position as a technology and digital-services business, rather than relying solely on growth in its telecom operations.

IPO Marks a New Chapter for Jio Platforms

Jio Platforms’ September-quarter results came shortly after its high-profile stock market debut. The company’s shares closed at Rs 1,419 on their first trading day, around 26.81% above the issue price of Rs 1,119. The listing gave the company a market capitalisation of approximately Rs 13 lakh crore, making it the second-most valuable listed company in India at the time.

The IPO raised around Rs 30,188 crore. Of the proceeds, Rs 27,500 crore was used to prepay certain external commercial borrowings of its subsidiary, Reliance Jio Infocomm.

During the earnings call, Ambani said the offering had attracted strong demand across investor categories despite challenging market conditions and foreign investor outflows. He expressed confidence that the company could create more value over the coming decade than it had generated during its first ten years.

He reiterated that Jio would continue to pursue ambitious growth opportunities and build on the progress it had made since entering the telecom market in 2016.

Jio Positions Itself Beyond Connectivity

Jio Platforms is increasingly focused on expanding the value it generates from its existing customer base by offering a wider range of services.

Jio Platforms CEO Pankaj Panwar said the company was not simply bundling services together. Instead, it was creating new markets and offering additional value to customers, encouraging them to spend more across its portfolio.

With subscriber growth, higher ARPU, rising data consumption, and an expanding digital-services business, Jio Platforms is seeking to build a broader technology-led business. Its investments in enterprise solutions, broadband, satellite communications, 6G, and AI are expected to play an important role in its next phase of growth.