Jio Platforms Limited (JPL) reported its unaudited consolidated financial results for Q2 FY27 ending September 30, 2026. The results were approved by the Board of Directors and filed with BSE Limited and National Stock Exchange of India Limited.

Financial Performance (Consolidated)

Quarterly Results (Q2 FY27 vs Q2 FY26):

  • Gross Revenue: ₹47,485 crore, up 11.3% YoY (Q2 FY26: ₹42,652 crore)
  • Revenue from Operations: ₹40,475 crore, up 11.4% YoY (Q2 FY26: ₹36,332 crore)
  • EBITDA: ₹21,879 crore, up 16.6% YoY (Q2 FY26: ₹18,757 crore)
  • EBITDA Margin: 54.1% (improved 250 bps from 51.6% in Q2 FY26)
  • EBIT: ₹14,268 crore, up 18.1% YoY (Q2 FY26: ₹12,082 crore)
  • EBIT Margin: 35.3% (improved 200 bps from 33.3% in Q2 FY26)
  • Profit Before Tax (PBT): ₹11,259 crore, up 13.3% YoY (Q2 FY26: ₹9,937 crore)
  • PBT Margin: 27.8% (improved 40 bps from 27.4% in Q2 FY26)
  • Profit After Tax (PAT): ₹8,387 crore, up 13.7% YoY (Q2 FY26: ₹7,375 crore)
  • PAT Margin: 20.7% (improved 40 bps from 20.3% in Q2 FY26)
  • Net Leverage: 0.10x (reduced from 0.55x in Q2 FY26)
  • Return on Average Capital Employed: 11.0% (compared to 12.5% in Q2 FY26)
  • EBITDA Less Capex: ₹15,449 crore, up 52.5% YoY (Q2 FY26: ₹10,129 crore)

Half-Yearly Results (H1 FY27 vs H1 FY26):

  • Gross Revenue: ₹93,446 crore (H1 FY26: ₹83,706 crore)
  • Revenue from Operations: ₹79,648 crore (H1 FY26: ₹71,364 crore)
  • EBITDA: ₹42,744 crore (H1 FY26: ₹36,892 crore)
  • EBITDA Margin: 53.7% (improved 200 bps from 51.7% in H1 FY26)
  • EBIT: ₹27,675 crore (H1 FY26: ₹23,738 crore)
  • EBIT Margin: 34.7% (improved 140 bps from 33.3% in H1 FY26)
  • PBT: ₹21,686 crore (H1 FY26: ₹19,488 crore)
  • PBT Margin: 27.2% (reduced 10 bps from 27.3% in H1 FY26)
  • PAT: ₹16,151 crore (H1 FY26: ₹14,485 crore)
  • PAT Margin: 20.3% (unchanged from H1 FY26)
  • Net Leverage: 0.10x (reduced from 0.56x in H1 FY26)
  • EBITDA Less Capex: ₹32,130 crore, up 98% YoY (H1 FY26: ₹16,216 crore)

Operational Metrics

Subscriber Base (as of September 30, 2026):

  • Total Customer Base: 542.4 million (up 7.1% YoY from 506.4 million)
  • Net Customer Addition (Q2 FY27): 9.1 million (up 9.6% YoY from 8.3 million)
  • Monthly Churn: 1.6% (improved 30 bps from 1.9% in Q2 FY26)
  • Monthly ARPU: ₹218.8 (up 3.5% YoY from ₹211.4)
  • Data Traffic: 71.3 billion GB (up 22.1% YoY from 58.4 billion GB)
  • Monthly Data Consumption per Customer: 44.2 GB (up 14.2% YoY from 38.7 GB)
  • Voice Traffic: 1.52 trillion minutes (up 1.3% YoY from 1.50 trillion minutes)

Strategic Progress

IPO Completion:

  • Successfully completed India's largest Initial Public Offering on October 28, 2026
  • Fresh issue of 27,00,00,000 equity shares of face value ₹10 each
  • Issue price: ₹1,119 per equity share (including securities premium of ₹1,109)
  • Gross proceeds: ₹30,188 crore (after accounting for employee discount of ₹54 per share)
  • ₹27,500 crore utilized for prepayment of External Commercial Borrowings of Reliance Jio Infocomm Limited
  • Balance amount to be used for general corporate purposes

Subscriber Milestones:

  • Crossed 300 million 5G mobility subscribers (up 66 million over last 12 months)
  • 5G now accounts for ~56% of total wireless traffic
  • Total Fixed Broadband subscribers reached 30.0 million (7.3 million additions over last 12 months)
  • Jio AirFiber subscriber base: 15.1 million (drove >75% of fixed broadband additions)

Product Launches & Enhancements:

  • Jio Call Agent: AI-powered call transcription and summarization tool showcased at India Mobile Congress 2026
  • JioFrames: AI-native smart camera frames with voice assistance, translation across 12 languages, and UPI payments
  • JioGames enhanced catalogue with Final Fantasy VII, Cricket26, War Thunder, and Mafia II
  • JioShield application launched as family safety solution with location tracking, SOS alerts, and screen time control

Leadership Commentary

Mr. Akash M Ambani, Managing Director, stated: "We warmly welcome our new shareholders to the Jio Platforms family as we enter a new era as a listed company. This quarter's results continue to reflect the strength of our 5G network, and the growing reach of our broadband and digital services. Ahead of the curve investment on next generation technologies has been the foundation of Jio's success over the past decade. 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."