Jio Platforms Q2FY27 profit rises 14% in first post-listing results

After making its stock market debut earlier this week, Jio Platforms Ltd on Friday reported steady growth in the July-September quarter (Q2FY27), supported by continued subscriber additions, growing traction in home broadband and sustained momentum in its digital services business.

The September-quarter earnings mark the company's first financial results announcement since its shares debuted on the stock exchanges on 28 October, delivering listing gains of 21.4% to shareholders over the issue price of ₹1,119.

Jio Platforms, which houses Reliance Industries Ltd's telecom and digital services businesses, reported 13.7% year-on-year and 8% sequential growth in net profit to ₹8,389 crore during the quarter.

Quick answers to key questions

•5 QUESTIONS

1

How much did Jio Platforms’ net profit rise in Q2 FY27?⌵

Jio Platforms reported net profit of ₹8,389 crore for the July–September quarter, up 13.7% year-on-year and 8% sequentially.

2

What was Jio Platforms’ Q2 FY27 revenue?⌵

Revenue from operations reached ₹40,475 crore, rising 11.4% year-on-year and 3.3% quarter-on-quarter.

3

What drove Jio Platforms’ growth in Q2 FY27?⌵

The company attributed revenue growth to continued subscriber additions, organic average revenue per user (ARPU) growth, and expansion in digital services. Home broadband also continued to gain traction.

4

Why was Jio Platforms’ Q2 FY27 report significant?⌵

It was the company’s first financial results announcement since its stock market debut on 28 October. Its performance was also in focus because Jio Platforms had become the country’s second-most-valued listed company.

5

What was Jio Platforms’ ARPU in Q2 FY27?⌵

Jio Platforms’ September-quarter ARPU was not available when the results were published. The article notes that tariff hikes can lift ARPU, while promotional 5G offers continue to constrain its growth.

Revenue from operations rose 3.3% quarter-on-quarter and 11.4% year-on-year to ₹40,475 crore. Jio said revenue growth was driven by continued subscriber additions, organic average revenue per user (Arpu) growth and expansion in digital services.

In the April-June quarter, the company's revenue from operations had grown 2.4% sequentially and 12% year-on-year to ₹39,173 crore. It had clocked a net profit of ₹7,764 crore in the quarter, up 9.2% year-on-year, while sequentially net profit had declined 2.15%.

The company declared its results after market hours. On Friday, shares of Jio Platforms ended 1.1% higher at ₹1,437.50 on the National Stock Exchange.

The company's financial performance after listing assumes significance as it is now the country's second-most-valued listed company, with a market capitalization of ₹13 trillion, after its parent Reliance Industries. Globally, Jio Platforms is also nearing the fifth position among major telecom operators by market capitalization. This is despite its annual revenue of ₹1.47 trillion being lower than that of global peers.

According to analysts, Jio’s rapid expansion in wireless and home broadband has supported its valuation. Alongside this, its focus on building a technology company, with a digital services vertical backed by an integrated technology stack, offers long-term earnings visibility.

Jio's Arpu, or average revenue per user, was not available at the time of publication.

Arpu is a key industry metric that tracks the average revenue earned per user. Tariff hikes are generally seen as a key lever for telecom operators to boost Arpu.

Airtel's Arpu stood at ₹264 in the June quarter. The company is yet to announce its results for the September quarter.

In August, Jio introduced a ₹300 Jio Prime membership, which protects users from tariff hikes until 5 September 2027. The membership is also expected to have provided additional revenue support to the company during the September quarter, according to analysts.

To be sure, in the absence of tariff hikes, Jio's sequential Arpu growth has remained largely flat over the past few quarters. Promotional 5G offers also continue to constrain growth in the company's Arpu.

Jio Platforms' telecom business, which operates under Reliance Jio Infocomm Ltd, accounts for about 88% of the company's revenue.

Jatin is based in New Delhi and writes on telecom and technology with a keen interest in policy and regulation. With over five years of reporting experience across Informist Media, Financial Express and now Mint, he has extensively covered the telecom, information technology, electronics and semiconductor sectors.<br><br>A commerce graduate, Jatin's work focuses on tracking industry developments, regulatory changes and policy decisions that shape India’s evolving digital ecosystem. Over the years, he has reported on key trends and shifts across these sectors, bringing clarity to complex policy and business issues.<br><br>Known for his strong news sense, Jatin focuses on breaking stories and delivering in-depth reporting that offers readers an understanding of complex topics, policy decisions and corporate developments. His work often examines the intersection of policy and business, highlighting how regulatory decisions impact industry strategy, pricing, and consumer outcomes.<br><br>He brings a strong domain understanding for Mint and his work is widely picked up by other media firms. With a focus on accuracy and depth, he aims to break down developments into clear, accessible insights for readers, while continuing to track emerging trends shaping the future of India’s telecom and technology sectors.

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