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Jio Platforms’ first post-listing results: User growth, higher ARPU drive 13.7% profit rise in Q2 The digital and telecom company's consolidated revenue from operations rose 11.4% to Rs 40,475 crore during the quarter under review. Jio Platforms on Friday reported a 13.7% rise in consolidated net profit to Rs 8,389 crore for the September 2026 quarter, driven by subscriber gains, higher realisations per user and healthy growth in digital services. The digital and telecom company's consolidated revenue from operations rose 11.4% to Rs 40,475 crore during the quarter under review, according to a regulatory filing. The September-quarter scorecard is the company's first since its stellar listing earlier this week, and the earnings briefing also marks the first time Managing Director Akash Ambani addressed investors on a quarterly results call. Commenting on the results, he said the reported quarter’s results continue to reflect the strength of the company's 5G network, and the growing reach of broadband and digital services". "We would continue to build our capabilities across satellite communications, 6G intellectual property and AI embedded in our core voice and data services as we create lasting value for all our stakeholders," he said During the results briefing, Ambani outlined Jio’s growth strategy ranging from international business models to opportunities in the enterprise segment by leveraging the technology stack built by the company and infrastructure laid out by it. "Multiple growth engines across mobility, home, enterprise and international that we see. And again, we are the ones that are proving this at scale. We are the ones that have a clear path of growth and profitability improving with a very, very strong balance sheet, even before the IPO proceeds come to us,” Ambani said. Net profit attributable to owners of the company stood at Rs 8,389 crore for the just-ended quarter against Rs 7,379 crore in the year-ago period. On a sequential basis, consolidated net profit rose 8% from Rs 7,765 crore in the June quarter, while revenue from operations increased 3.3% from Rs 39,173 crore. Ambani said the enterprise segment will be a major growth opportunity where it plans to double down and churn users towards the company’s network. "The small and medium businesses that are existing in our country are a unique opportunity. We will be very, very selective about the international markets that we will go to. We will not be selling our proprietary stacks as a hardware commission or our software as a service. What we imagine the business model here to be is to be an actually managed service partner with our customers," he said. The company’s net debt dropped 78.6% to Rs 8,822 crore in the reported quarter from Rs 41,161 a year ago. Jio Platforms attributed the revenue growth to subscriber additions, higher average revenue per user (ARPU) and healthy growth in digital services. Revenue from connectivity grew 11%, while digital services registered 16% growth during the quarter. The company's total subscriber base rose 7.1% to 54.24 crore from 50.64 crore a year earlier, with net additions of 91 lakh subscribers during the September quarter. Monthly ARPU (average revenue per user) rose to Rs 218.8 from Rs 211.4 in the year-ago period and Rs 215.6 in the June quarter; average monthly data consumption per user increased 14.2% to 44.2 GB. Jio also crossed the milestone of 30 crore 5G subscribers during the quarter, adding 6.6 crore 5G users over the past 12 months. "Customer engagement also remained robust with 5G now accounting for nearly 56% of total wireless traffic," the JPL earnings release said. The fixed broadband subscriber base touched 3 crore. "Jio AirFiber with total base of 15.1 million subscribers, has driven more than 75% of Jio’s fixed broadband additions during the last 12 months," the release said. Total data traffic rose 22.1% year-on-year to 71.3 billion GB during the quarter. This is the first results announcement of the digital and telecom company after its blockbuster stock market debut earlier this week, when the company's shares ended nearly 27% above its Rs 1,119 issue price, making what was a telecom and digital upstart in 2016 the second-most valuable domestic firm by market capitalisation, in a matter of just 10 years. The company's IPO raised Rs 30,188 crore, of which Rs 27,500 crore has been utilised towards prepayment of certain external commercial borrowings of its subsidiary Reliance Jio Infocomm. Speaking at the JPL earnings call, Ambani said Jio Platforms' blockbuster initial public offering (IPO) broke records across all investor categories despite challenging market conditions and foreign outflows, and asserted that the company expects to create even greater value over the next decade than it did in its first ten years. "We believe that the value we can create over the next decade or so is even greater than what we have created in our first decade," he said, adding that the company continues to aspire for more. Reiterating the message from his NSE listing speech, Ambani said, "Never let today's achievement limit tomorrow's ambition, and that is what we want to carry forward with Jio". Jio Platforms CEO Pankaj Panwar said the company is not bundling services in its offering but creating new market and value from customers, which is increasing wallet share for the company.
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