Jio Platforms Ltd has reported a strong financial performance for the September quarter of FY27, with consolidated net profit increasing 13.7% year-on-year to ₹8,389 crore. The company also recorded an 11.4% rise in revenue from operations to ₹40,475 crore, supported by subscriber additions, growing data consumption and expansion across its broadband and digital services businesses.
The quarterly results, announced on Friday, October 30, mark Jio Platforms’ first earnings announcement since its stock market debut on October 28. The performance comes at an important time for the Reliance Industries subsidiary, which is looking to strengthen its position as a technology and digital services company beyond its traditional telecom business.
Jio Platforms had reported a net profit of ₹7,379 crore in the corresponding quarter last year, while revenue stood at ₹36,332 crore. On a sequential basis, net profit increased around 8% from ₹7,765 crore in the June quarter, while revenue rose 3.3% from ₹39,173 crore.
The company’s operating performance also improved during the quarter. Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 16.6% year-on-year to ₹21,879 crore. Its EBITDA margin expanded by 250 basis points to 54.1%, compared with 51.6% in the year-ago period. Revenue growth and better operating leverage supported the improvement.
5G adoption and subscriber growth
Subscriber additions remained an important growth driver for Jio. The company ended September 2026 with a customer base of 542.4 million, compared with 506.4 million a year earlier. It added 9.1 million net subscribers during the quarter, reflecting continued demand for mobile connectivity and digital services.
The company also crossed the 300-million mark in 5G subscribers, highlighting the growing adoption of next-generation mobile networks in India. Jio added around 15 million 5G customers during the September quarter and 66 million over the past 12 months.
Data consumption continued to increase as more customers moved towards 5G services and used mobile internet for entertainment, communication, work and online transactions. Total data traffic grew 22.1% year-on-year to 71.3 billion GB, compared with 58.4 billion GB in the corresponding quarter last year.
Average monthly data consumption per customer increased to 44.2 GB from 38.7 GB a year ago. This indicates that customers are not only adopting faster networks but are also using more data-intensive services.
Average revenue per user (ARPU), an important measure of how much a telecom operator earns from each subscriber every month, increased 3.5% year-on-year to ₹218.8. It was also higher than ₹215.6 recorded in the previous quarter.
The improvement reflects increased usage and a better subscriber mix. However, promotional offers for fixed broadband customers continued to influence the pace of ARPU growth.
Broadband and digital services offer new opportunities
Jio is increasingly looking beyond mobile connectivity to build additional revenue streams through home broadband, enterprise solutions and digital platforms. Its fixed broadband customer base reached 30 million by September 2026, with approximately 7.3 million additions over the previous 12 months.
Jio AirFiber, the company’s fixed wireless broadband service, had more than 15.1 million subscribers. The service contributed over 75% of fixed broadband additions during the past year, indicating growing demand for wireless home internet connections.
The company also sees considerable room for expansion in India’s mobile broadband market. Jio Platforms chief executive Pankaj Pawar told analysts that the company expects an opportunity to add 340 million mobile broadband users over the next five years. This includes around 240 million existing 2G users who could migrate to 4G and 5G services, along with 100 million new users.
Jio is also looking to strengthen its enterprise business by offering connectivity, cloud computing, cybersecurity and other technology solutions. Its strategy involves building digital services on top of its existing network infrastructure rather than depending entirely on traditional telecom revenue.
AI, satellite communications and 6G in focus
Jio Platforms is also preparing for the next phase of technology development. Managing director Akash Ambani said the company would continue investing in satellite communications, 6G intellectual property and artificial intelligence integrated into its voice and data services.
The company’s broader technology strategy includes cloud computing, cloud gaming, video analytics and AI-powered services. It aims to use its large subscriber base and digital infrastructure to develop services that can generate additional revenue.
Jio is also exploring opportunities to provide integrated technology solutions to small businesses and merchants that need connectivity, cloud and security services but may not have dedicated technology teams.
First results after blockbuster IPO
The September-quarter earnings follow Jio Platforms’ much-awaited stock market listing on October 28. The company raised approximately ₹30,188 crore through its initial public offering, making it India’s largest IPO.
The shares debuted at ₹1,358 against an issue price of ₹1,119, delivering listing gains of around 21.4%. The strong investor response came despite challenging market conditions.
Akash Ambani described the IPO as an important milestone for the company, adding that Jio’s next phase of growth would focus on creating greater long-term value for shareholders.
The company also used ₹27,500 crore from its IPO proceeds to repay outstanding borrowings of Reliance Jio Infocomm, helping strengthen its balance sheet. Jio Platforms’ net debt declined 78.6% year-on-year to ₹8,822 crore at the end of September.
With rising 5G adoption, expanding broadband connections and investments in AI and next-generation networks, Jio Platforms is positioning itself for growth beyond conventional telecom services. Its latest results underline how connectivity, digital platforms and emerging technologies are becoming central to its business strategy.