Jio Platforms Reports 13.7% Profit Growth in First Results After Listing

Synopsis

Jio Platforms, the digital and telecom division of Reliance Industries, posted a consolidated net profit growth of 13.7 per cent at ₹8,389 crore for the quarter which ended on September 2026. The revenue from operations increased by 11.4 per cent to ₹40,475 crore. The results, the first since the company went public on October 28, revealed an average revenue per user of ₹218.8 per user, an EBITDA margin of 54.1 per cent and net subscriber additions of 9.1 million.

Profit and revenue

Jio Platforms announced the consolidated net profit of ₹8,389 crore for the quarter that ended in September 2026, which rose 13.7 per cent year-on-year, in its financial statement on Friday. Revenue from the operations increased by 11.4 per cent to ₹40,475 crore. In turn, profit increased 8 per cent from ₹7,765 crore while revenue went up 3.3 per cent from ₹39,173 crore.

Listed company first results

The shares opened at ₹1,119 on Wednesday and were trading at a premium of 21.36 per cent to that rate on the BSE and NSE. They have traded at ₹1,417.35 on the BSE, just about 27 per cent higher than the issue price, to become the second most market cap-rich domestic firm. The initial issue price as per market data was ₹30,188 crore.

Operating metrics

Reliance's disclosure shows that the company's EBITDA increased at 16.6 per cent at ₹21,879 crore with a margin of 54.1 per cent. The average revenue per user (ARPU) per month increased to ₹218.8 from ₹211.4. Customers totalled 542.4 million (a net increase of 9.1 million).

5G subscribers hit the milestone of 300 million, while fixed broadband surpassed 30 million.5G subscribers hit the 300 million mark and fixed broadband passed the 30 million mark. The data usage increased from 38.7 GB per month to 44.2 GB per month with each customer.

Why the operating profits didn't keep up with the growth in profits

Profit growth was behind EBITDA growth by 13.7 per cent. Depreciation increased by 14 per cent to ₹7,611 crore and finance costs increased by 40.3 per cent to ₹3,009 crore, which was attributable, in part, to the capitalisation of 5G assets in March 2026.

Network and financing expenses offset some of the increase in operating earnings, partially due to the growing subscriber base and increasing ARPU.

In the Reliant group

The numbers were disclosed along with Reliance Industries' consolidated September quarter results, which are covered in our accompanying report. The company will next make a disclosure in its December-quarter results.