Jio Platforms first Q2 results after bumper listing: check date; Reliance firm’s earnings in focus; key numbers to watch
A Ksheerasagar
Jio Platforms Ltd, which houses Reliance Industries Ltd’s telecom and digital services businesses, is scheduled to report its financial performance for the September quarter (Q2 FY27) on Friday, October 30. This will be its first earnings announcement since its stock market listing on Wednesday.
The company is expected to report stable earnings for the quarter on the back of continued subscriber additions, traction in the home broadband segment, and growth in digital services, Mint reported, citing analysts.
Reliance Jio is India’s largest telecom operator by market share and a subsidiary of Jio Platforms, accounting for most of the latter’s business.
In the July-September quarter, Jio is expected to post nearly 2% quarter-on-quarter ARPU growth to ₹219.5, according to average estimates from four brokerage firms.
Analysts expect the ₹300 Jio Prime membership fee introduced in August, which protects users from tariff hikes until 5 September 2027, to provide additional revenue support in the interim.
The telecom major reported steady growth in the April–June quarter (Q1 FY27), driven by continued subscriber additions, traction in the home broadband segment, and growth in digital services.
Jio Platforms posted 9.2% year-on-year growth in net profit to ₹7,764 crore during the quarter. However, profit declined 2.15% sequentially due to higher finance costs and depreciation expenses as its 5G network assets became operational.
Revenue from operations rose 2.4% quarter-on-quarter and 12% year-on-year to ₹39,173 crore.
Average revenue per user (ARPU), a key industry metric that tracks the average revenue earned per user, increased 3.3% to ₹215.6 in the absence of tariff hikes. In the same period last year, ARPU stood at ₹208.8.
For FY26, the telecom giant reported revenue from operations of ₹1.47 lakh crore, while EBITDA stood at ₹76,255 crore, translating into an industry-leading EBITDA margin of 51.9%.
Since its launch, the company has rapidly scaled its operations to become India’s largest business by revenue within a decade, according to the Analysys Mason Report.
Between FY24 and FY26, revenue from operations and EBITDA grew at a compound annual growth rate (CAGR) of 15.8% and 17.8%, respectively, highlighting the strength of its digital connectivity and technology-driven business model.
Shares of Reliance Industries’ digital services arm made a blockbuster debut, listing at ₹1,358 apiece, a 21.36% premium over the issue price of ₹1,119. The strong debut followed massive investor demand for the ₹30,213-crore issue during its subscription period last week, with the offering receiving an overall subscription of four times.
The company is best known for its telecom arm, Reliance Jio Infocomm, which disrupted India’s telecom industry following its launch in 2016 by offering affordable voice and data services.
Jio played a key role in accelerating digital adoption across the country through its low-cost data plans and free voice-calling model, attracting millions of subscribers within a short period.
A Ksheerasagar
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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