Jio Platforms Profit Rises 13.7 Percent in First Results Since Record Listing

Jio Platforms posted a 13.7 percent jump in quarterly net profit in its first results since its stock exchange listing, with profit helped by subscriber growth and higher revenue per user. Reuters reported consolidated net profit of 83.89 billion rupees for the quarter ending September 30, compared with 73.79 billion rupees a year ago.

The company is Indian billionaire Mukesh Ambani's telecom and digital business. Its results, filed with regulators and reported by ANI, The Hindu BusinessLine and Inc42, cover the second quarter of FY27 and arrive two days after its shares listed in Mumbai.

The filing numbers

In its regulatory filing, Jio Platforms reported a 13.7 percent year-on-year increase in consolidated net profit to Rs 8,387 crore for the second quarter of FY27, compared with Rs 7,375 crore in the same quarter last year, ANI reported. The Reuters consolidated figure and the filing figure in crore are reported on slightly different bases in the source reports, so this article keeps them in separate sentences and attributes each one.

Consolidated revenue from operations rose 11.4 percent year on year to Rs 40,475 crore in the July to September quarter, compared with Rs 36,332 crore a year earlier, ANI reported. Gross revenue rose 11.3 percent to Rs 47,485 crore from Rs 42,652 crore.

Earnings before interest, taxes, depreciation and amortisation rose 16.6 percent year on year to Rs 21,879 crore from Rs 18,757 crore. The EBITDA margin expanded by 250 basis points to 54.1 percent from 51.6 percent. Higher finance costs, after the capitalisation of 5G assets in March 2026, partly offset the EBITDA growth, the reports said.

Sequentially, net profit grew 8.0 percent from Rs 7,764 crore in the first quarter of FY27, and operating revenue grew 3.3 percent quarter on quarter, Inc42 reported. Other income jumped 49.5 percent year on year to Rs 978 crore, and total income rose to Rs 41,453 crore, up 12 percent from Rs 36,986 crore in the second quarter of FY26.

Subscribers and pricing

Jio's subscriber base stood at 542.4 million at the end of September, a 7.1 percent increase from a year earlier and 1.7 percent growth from the previous quarter, The Hindu BusinessLine and Inc42 reported. Average revenue per user rose to Rs 218.8 in the September quarter, from Rs 215.60 in the first quarter of FY27.

For the first half of FY27, consolidated revenue from operations stood at Rs 79,648 crore, compared with Rs 71,364 crore a year earlier, ANI reported. Net profit for the half rose to Rs 16,151 crore from Rs 14,485 crore, and EBITDA rose to Rs 42,744 crore from Rs 36,892 crore.

Two days after the listing

The results come two days after Jio Platforms completed its Rs 30,188 crore initial public offering, which the company described as India's largest to date. Reuters described the debut as a record-breaking $3.2 billion stock exchange debut. Its shares were listed on the National Stock Exchange and the BSE on October 28, after a fresh issue of 27 crore equity shares at an issue price of Rs 1,119 per share, ANI reported.

On the figures in the filing, profit, revenue and subscribers all rose in the first quarter reported after that pricing.