Jio Platforms Profits Surge 13.7% to Rs 8,387 Crore in First Post-Listing Results
Jio Platforms reports a 13.7% jump in Q2 FY27 profit and strong revenue growth in its first financial results after its historic IPO listing.
In its first financial disclosure since debuting on the stock exchanges, Jio Platforms Limited (JPL) has posted a strong performance for the second quarter of FY27. The company reported a consolidated net profit of Rs 8,387 crore, marking a 13.7 per cent year-on-year increase from the Rs 7,375 crore recorded in the same quarter last year.
These results arrive just days after the company concluded what it describes as India's largest-ever initial public offering (IPO), which raised Rs 30,188 crore. The company's shares were officially listed on the BSE and NSE on October 28, following the issuance of 27 crore equity shares priced at Rs 1,119 each.
Robust Revenue and Margin Growth
Jio Platforms saw its consolidated revenue from operations climb 11.4 per cent to Rs 40,475 crore, up from Rs 36,332 crore in the previous year's corresponding quarter. Gross revenue also witnessed an upward trend, rising 11.3 per cent to reach Rs 47,485 crore.
The company's growth was driven by double-digit gains across its core sectors:
- Connectivity services: Grew by 11 per cent.
- Digital services: Grew by 16 per cent.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped 16.6 per cent to Rs 21,879 crore. The EBITDA margin also saw a healthy expansion of 250 basis points, rising to 54.1 per cent from 51.6 per cent.
The IPO Impact and Capital Management
The massive capital infusion from the IPO has already been put to work. Jio Platforms revealed that Rs 27,500 crore of the net proceeds were used to fully or partially prepay external commercial borrowings of its material subsidiary, Reliance Jio Infocomm Limited. The remaining funds are earmarked for general corporate purposes.
Akash M Ambani, Managing Director of Jio Platforms Limited, welcomed the new shareholders into the "Jio Platforms family," stating that the company has entered a new era as a listed entity. He highlighted that the quarterly results underscore the strength of the company's 5G network and the expanding reach of its broadband and digital offerings.
Operational Milestones: 5G and Broadband Surge
The company's operational metrics show a significant expansion in its user base and data consumption:
Subscriber Growth
Jio's total subscriber base grew 7.1 per cent to reach 542.4 million, adding 9.1 million net subscribers during the quarter. The company also hit two major milestones:
- 5G Mobile Subscribers: Reached 300 million.
- Fixed Broadband Subscribers: Reached 30 million.
Data and ARPU Trends
Average Revenue Per User (ARPU) rose 3.5 per cent to Rs 218.8, driven by a better subscriber mix and increased usage, though this was slightly tempered by promotional offers for fixed broadband. Data appetite continues to soar, with total data traffic growing 22.1 per cent to 71.3 billion GB. The average monthly data consumption per customer climbed to 44.2 GB from 38.7 GB.
Notably, 5G now accounts for approximately 56 per cent of all wireless traffic. In the fixed broadband segment, Jio AirFiber has emerged as a primary driver, reaching 15.1 million subscribers and accounting for over 75 per cent of all fixed broadband additions during the period.
Half-Yearly Performance Summary
For the first half of FY27, Jio Platforms maintained its growth trajectory:
- Consolidated Revenue: Rs 79,648 crore (up from Rs 71,364 crore).
- Net Profit: Rs 16,151 crore (up from Rs 14,485 crore).
- EBITDA: Rs 42,744 crore (up from Rs 36,892 crore).
- Free Cash Flow: Reported at Rs 32,130 crore.
While the company saw strong growth, it noted that higher finance costs resulting from the capitalisation of 5G assets in March 2026 partially offset some of the EBITDA gains.