Jio Platforms Q1 profit rises 9.2 per cent as subscriber base tops 533 million

MUMBAI: Jio’s network isn’t the only thing gaining strength, its balance sheet is picking up signal too. Riding on rising tariffs, expanding 5G adoption and booming digital services, Jio Platforms kicked off FY27 with double-digit revenue growth and stronger operating margins, as it prepares for its next chapter as a publicly listed company.

Jio Platforms Ltd., the telecom and digital services arm of Reliance Industries Ltd., reported an 11.8 per cent year-on-year increase in revenue from operations for the quarter ended June 2026, with revenue rising to Rs 39,173 crore from Rs 35,032 crore in the corresponding quarter last year.

The company’s profitability also improved. EBITDA grew 15.1 per cent year-on-year to Rs 20,865 crore, compared with Rs 18,135 crore a year earlier, while the EBITDA margin expanded by 150 basis points to 53.3 per cent, reflecting higher operating efficiency.

Profit after tax (PAT) rose 9.2 per cent to Rs 7,764 crore, up from Rs 7,110 crore in the year-ago quarter.

Growth was powered by the company’s expanding digital ecosystem. Jio’s digital services business recorded 20 per cent year-on-year growth, driven by rising demand for content, cloud computing, Internet of Things (IoT) and managed services. Meanwhile, its connectivity services business posted 11 per cent growth, underscoring continued demand for mobile and broadband services.

The telecom giant also strengthened its leadership in India’s 5G market. Jio’s total subscriber base crossed 533 million, including 285 million 5G subscribers, making it the country’s largest 5G operator by user base.

Customer monetisation continued to improve during the quarter. Average Revenue Per User (ARPU) increased to Rs 215.6, supported by a better subscriber mix and seasonal factors, although the gains were partially offset by promotional offers for fixed broadband customers.

The company also reported healthier customer retention, with monthly churn falling to 1.6 per cent, while adding 8.9 million net subscribers during the quarter.

Beyond mobile services, Jio continued to consolidate its position in India’s home broadband market. Total fixed broadband subscribers reached 28.6 million as of June 2026, after adding 8.6 million subscribers over the past 12 months. The company now commands more than 43 per cent market share in the segment.

Its flagship wireless broadband service, Jio AirFiber, crossed 14 million subscribers and accounted for more than 75 per cent of all fixed broadband additions in India over the past year, highlighting the growing appetite for wireless home internet services beyond traditional fibre networks.

Commenting on the performance, Akash M. Ambani, Managing Director of Jio Platforms Ltd., said the company has evolved beyond being a telecom operator into a deep-tech business with innovation spanning multiple advanced technologies. He added that Jio intends to leverage its expanding technology portfolio and globally recognised patent base to broaden digital connectivity and services, while continuing its journey towards becoming a publicly listed company.

The quarterly performance reinforces Jio’s strategy of building a diversified digital ecosystem rather than relying solely on telecom revenues. With subscriber additions remaining strong, ARPU continuing to climb, broadband adoption accelerating and digital businesses gathering pace, the company enters its proposed IPO phase from a position of financial strength and operational momentum.