THEBUSINESSBYTES
BUREAU
MUMBAI,
JULY 17, 2026
Riding on robust
subscriber additions, accelerating digital services and healthy margin
expansion, Jio Platforms Ltd. (JPL) reported a 9.2 per cent year-on-year rise
in net profit to Rs 7,764 crore for the first quarter of FY27, while delivering
a strong 15.1 per cent growth in EBITDA.
The company continued
to benefit from strong momentum across mobility, home broadband and enterprise
services, with Digital Services revenue surging 20 per cent year-on-year,
significantly outpacing the 11 per cent growth in its connectivity business.
Growth was driven by expanding contributions from Content, Cloud Compute,
Internet of Things (IoT) and Managed Services.
Jio sustained its
leadership in 5G and broadband expansion during the past 12 months, adding 73
million 5G subscribers and 9 million fixed broadband customers. The company
said more than 75 per cent of its fixed broadband net additions were powered by
its proprietary fixed wireless technology stack.
The telecom and
digital services giant's total subscriber base crossed 533 million as of June
2026, including over 285 million 5G users. Customer engagement also remained
robust, with data traffic growing 27 per cent year-on-year to 69 Exabytes
during the quarter. Jio Platforms further strengthened its innovation
credentials by emerging among the fastest-rising global innovators in the
Patent Cooperation Treaty (PCT) rankings of the World Intellectual Property
Organization (WIPO).
JPL posted quarterly
revenue of Rs 45,961 crore, up 12 per cent year-on-year, while EBITDA climbed
to Rs 20,865 crore, lifting the EBITDA margin by 150 basis points to 53.3 per
cent. Average Revenue Per User (ARPU) improved to Rs 215.6, registering a 3.3
per cent annual increase.
The company's fixed
broadband subscriber base expanded to 28.6 million, while JioAirFiber
maintained its global leadership with over 14 million subscribers.
JioStar also
delivered steady growth during the quarter, with EBITDA rising 3.1 per cent
year-on-year to Rs 1,049 crore. JioHotstar recorded its highest-ever average
monthly active users at 530 million, while IPL 2026 became the biggest-ever T20
event, reaching 1.2 billion viewers across digital platforms and linear
television.
At the group level,
Reliance Industries Ltd. (RIL) reported a resilient performance despite
macroeconomic headwinds and volatility in global energy markets. Consolidated
revenue increased 24.5 per cent year-on-year to Rs 3,40,257 crore, supported by
double-digit revenue growth across its Oil-to-Chemicals (O2C), Digital Services
and Retail businesses.
The conglomerate
achieved a record recurring consolidated EBITDA of Rs 54,067 crore, up 10.1 per
cent year-on-year, driven by strong contributions from the O2C and Digital
Services businesses. However, reported consolidated EBITDA declined 6.8 per
cent compared with the corresponding quarter last year due to the absence of a
Rs 8,924 crore profit from the sale of listed investments recorded in the first
quarter of FY26.
Reliance's capital
expenditure during the quarter stood at Rs 38,682 crore, fully supported by
strong internal cash generation, with cash profit reaching Rs 41,254 crore.
Commenting on the results, Reliance Industries Limited Chairman & Managing Director Mukesh D. Ambani said: “Reliance has made a steady start to FY27, with all businesses delivering strong operating performance. Our diverse business portfolio has once again demonstrated its resilience in a quarter which witnessed continuing geopolitical tensions and volatile commodity markets.
The Digital Services business continued its growth momentum during the quarter. Jio’s performance across mobility, home broadband and enterprise services remained strong, driving healthy earnings growth of 15% Y-o-Y. During the quarter, Jio Platforms Limited filed its DRHP with SEBI, a significant step towards its public listing. The upcoming IPO will be an important milestone in Jio’s journey and will give investors an opportunity to participate in India’s digital growth story.”
