Tag: JioPlatforms

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Corporate

Jio Platforms Q2 profit climbs 14%, revenue grows

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.

 

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Corporate

Jio Platforms lists 21% higher, becomes India’s second-largest

Jio Platforms made a debut on the stock market with its shares listing at a premium of 21.36% on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The listing marked a major milestone for Reliance Industries Chairman Mukesh Ambani’s telecom and digital services business after its record-breaking initial public offering (IPO).

Jio Platforms shares opened at ₹1,358 apiece on both exchanges, compared with the IPO issue price of ₹1,119. The difference of ₹239 per share translated into a listing gain of 21.36% for investors who received shares in the public issue.

The debut valued Jio Platforms at ₹12.5 lakh crore, making it India’s second-most valuable listed company after its parent, Reliance Industries. It moved ahead of telecom rival Bharti Airtel in terms of market capitalisation.

The debut followed intense investor interest in the ₹30,213-crore IPO, which became India’s largest public issue. The offering attracted institutional participation and set new benchmarks for investor applications and demand.

The Jio Platforms IPO was subscribed 22.19 times by the close of bidding on October 23. Investors submitted bids for 438.26 crore shares against around 19.75 crore shares on offer, according to exchange data.

The qualified institutional buyers (QIB) category led the subscription, with its allotted portion subscribed 70.55 times. The non-institutional investor category received bids for around 14 times its allotted shares, while the retail investor portion was subscribed 2.72 times.

The company received more than 1.38 crore applications, setting a record for an Indian public issue. The response reflected strong interest from institutional investors, high-net-worth individuals and retail participants seeking exposure to one of the country’s largest digital businesses across India.

The IPO opened on October 21 and closed on October 23. Jio Platforms fixed the issue price at ₹1,119 per share, the upper end of its price band of ₹1,065 to ₹1,119.

The offering surpassed Hyundai Motor India’s ₹27,870-crore IPO in 2024 to become the largest public issue in India’s stock market history. The proceeds from the fresh issue will go to the company rather than existing shareholders selling their holdings.

A significant portion of the IPO proceeds is intended to strengthen the company’s position. Jio Platforms plans to use ₹27,500 crore to repay or prepay borrowings of its subsidiary, Reliance Jio Infocomm. The remaining proceeds are earmarked for general corporate purposes and issue-related expenses.

Reducing debt could help the business manage commitments as it continues investing in network infrastructure, broadband connectivity and digital services. The use of proceeds also gives investors a clearer view of how the company intends to deploy the funds raised through the issue.

Jio Platforms has grown beyond mobile connectivity into a wider digital ecosystem. Its businesses span telecommunications, home broadband, digital entertainment, enterprise solutions, cloud services and emerging technology offerings.

The company has attracted investments from major global technology companies, including Meta and Google. These relationships have helped establish Jio Platforms as a participant in India’s expanding digital economy.

Jio’s scale remains central to its market position. Reliance Jio Infocomm had approximately 533.3 million customers as of June 2026, making it one of the world’s largest mobile operators by subscriber numbers. Its network carried a substantial share of India’s wireless data traffic.

Jio Platforms reported operating revenue of ₹1.47 lakh crore for the financial year ended March 2026, while net profit rose to around ₹30,049 crore. The figures underline the company’s ability to generate substantial earnings from its telecommunications and digital businesses.

Investors will now look for continued revenue growth, improved monetisation of digital services and stronger performance in broadband and enterprise offerings. Changes in mobile tariffs, rising data consumption and competition in the telecom industry are likely to influence the company’s financial outlook.

Despite the strong listing, the opening gain alone does not guarantee sustained share price growth. Investors will assess the company’s valuation against its earnings, future investment requirements and the performance of listed competitors.

Market conditions could influence trading. Indian equities faced pressure on Wednesday amid rising crude oil prices and uncertainty ahead of the US Federal Reserve’s policy decision. Jio Platforms’ debut therefore stood out against a weaker market.

The listing gives public-market investors direct access to Reliance Industries’ telecom and digital services business while placing greater focus on its financial disclosures and corporate governance.

Jio Platforms has entered the stock market with a substantial valuation and strong investor interest. Its next challenge will be to meet market expectations through sustained earnings growth, lower debt and expansion across India’s rapidly evolving digital services sector and Indian economy.

 

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Corporate

Jio Platforms IPO fully subscribed within 100 minutes

Mukesh Ambani-led Jio Platforms has created history in India’s primary market, with its ₹30,213-crore initial public offering (IPO) fully subscribed within just 100 minutes of opening on Wednesday, October 21. The issue is set to become India’s largest-ever IPO, attracting strong interest from institutional investors despite relatively cautious participation from retail buyers.

The public issue of Reliance Industries’ digital and telecommunications business will remain open until October 23. The rapid subscription marks a significant milestone for Jio Platforms, which has transformed India’s mobile internet market since launching its services in 2016.

The offering has surpassed Hyundai Motor India’s ₹27,870-crore IPO in 2024 to become the country’s biggest public issue by value. It has also drawn considerable attention because it gives investors an opportunity to buy shares in one of India’s largest digital businesses.

However, the early response has not been uniform across investor categories. Institutional buyers have led the demand, while retail investors have been more cautious about the valuation and potential listing gains.

Jio Platforms has fixed the IPO price band at ₹1,065 to ₹1,119 per share. The issue comprises 27 crore fresh equity shares and will raise ₹30,213 crore at the upper end of the price band.

At this price, the company is valued at approximately ₹10.3 lakh crore, making it one of the most valuable businesses to enter India’s public markets.

The IPO is structured entirely as a fresh issue, meaning the proceeds will go to the company rather than existing shareholders selling their shares through an offer for sale. A substantial portion of the money is earmarked for debt repayment, with the remaining amount intended for general corporate purposes.

Investors can apply for a minimum lot of 12 shares. At the upper price band of ₹1,119, this requires an investment of ₹13,428, excluding applicable charges.

The issue opened on October 21 and will close on October 23. The final subscription figures will show whether demand continues to grow across all investor categories.

Qualified institutional buyers (QIBs), including mutual funds, insurance companies and other large financial institutions, have driven the rapid subscription.

According to subscription data reported on Wednesday, the QIB portion was fully subscribed within the first 10 minutes of bidding and subsequently attracted bids well above the shares reserved for the category.

The strong response also follows substantial interest from anchor investors before the public issue opened. Jio Platforms raised around ₹8,110 crore from anchor investors, with bids reportedly reaching approximately ₹2.5 lakh crore.

The anchor book included global asset managers, sovereign wealth funds, domestic mutual funds and insurance companies. Their participation indicates significant institutional interest in gaining exposure to Jio’s telecommunications and digital services businesses.

Retail participation, however, has remained comparatively subdued during the early hours. This difference is important because overall subscription figures can conceal variations in demand between large institutions and individual investors.

Strong institutional demand can support confidence in an IPO, but it does not guarantee listing gains or long-term returns.

Jio has reshaped India’s telecommunications industry by making mobile data more affordable and expanding access to high-speed internet. Its business has grown beyond mobile connectivity to include home broadband, digital entertainment and enterprise services.

The company has also attracted investments from global technology groups, including Meta and Google, strengthening its position in India’s digital economy.

Its next phase of growth could depend on increasing average revenue per user, expanding 5G services and developing opportunities in artificial intelligence, cloud computing and other digital businesses.

However, analysts will also examine the company’s valuation, competition and ability to convert its large subscriber base into sustained revenue growth.

The IPO is particularly significant for Reliance Industries, which is opening its digital business to public investors after years of expansion under Ambani’s leadership.

The Jio Platforms IPO is scheduled to close on October 23, with allotment expected to be finalised on October 26. The shares are scheduled to list on the BSE and NSE on October 28.

Investors are also tracking the grey market premium (GMP), an unofficial indicator of expected listing sentiment. However, the premium can change quickly and should not be treated as a reliable prediction of the actual listing price.

The final subscription figures, share allotment and market conditions will help determine how the stock performs when trading begins.

Jio Platforms’ rapid subscription has given the company a record-breaking start in India’s IPO market. The next test will be whether investor enthusiasm translates into a strong listing and sustained demand after the shares begin trading.

 

Categories
Leaders

Jio Platforms CEO bets on AI tokens for telecom’s future

Jio Platforms is positioning itself for a new phase in the telecom industry, where artificial intelligence rather than basic connectivity will drive growth. Speaking at Mobile World Congress 2026 in Barcelona, Group CEO Mathew Oommen said the technology landscape is undergoing a major transformation as AI becomes central to digital services.

Oommen said the telecom industry is moving beyond simply connecting people and devices. Instead, networks will increasingly function as intelligent digital infrastructure capable of powering AI applications across sectors. According to him, this shift represents a structural change in how technology platforms operate and generate value.

To prepare for this transition, Jio is working on what it describes as an “Intelligence Grid.” The idea is to combine connectivity, computing power and artificial intelligence into a single ecosystem that can support large-scale AI services. This infrastructure, the company believes, will help businesses, developers and consumers access AI capabilities more easily.

A key concept in Jio’s strategy is the use of “AI tokens.” These tokens represent the units used by AI systems to process data and generate responses. Oommen explained that in the emerging AI economy, tokens could function much like voice minutes and mobile data once did in telecom, as a way to measure and price usage.

Jio plans to make AI tokens significantly cheaper, following a strategy similar to the one it used when it disrupted India’s telecom market by drastically lowering the cost of mobile data. By reducing the cost of AI computing, the company hopes to accelerate adoption of AI technologies across industries.

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