Reliance Jio Infocomm Generated 93.71% of FY26 Profit

Reliance Jio Infocomm Limited, referred to here as Reliance Jio Infocomm, generated 93.71% of Jio Platforms’ FY26 consolidated profit-or-loss allocation, or Rs 28,173.2 crore of the Rs 30,064.3 crore total. Reliance Jio Infocomm also represented 84.71% of consolidated net assets at 31 March 2026, demonstrating substantial earnings and asset concentration in the telecom operating subsidiary.

How did Reliance Jio Infocomm generate 93.71% of FY26 profit?

Reliance Jio Infocomm generated Rs 28,173.2 crore of the Rs 30,064.3 crore FY26 consolidated profit-or-loss allocation reported in Jio Platforms’ Schedule III disclosure. Schedule III to the Companies Act, 2013 requires a consolidated group to present each enterprise’s share of net assets, profit or loss, other comprehensive income and total comprehensive income. The 93.71% figure is consequently an enterprise-level allocation in the consolidated disclosure, rather than a segment-profit measure.

Reliance Jio Infocomm’s FY26 allocation was materially larger than that of every other named enterprise. Reliance Jio Infocomm Pte. Ltd. represented 1.24% of consolidated profit or loss, or Rs 373.4 crore, while Jio Haptik Technologies Limited represented 1.12%, or Rs 36.8 crore. Radisys India Limited accounted for 0.22%, or Rs 66.1 crore, and several other subsidiaries either contributed less than 1% or recorded losses.

Has Reliance Jio Infocomm’s FY26 profit concentration changed?

Reliance Jio Infocomm’s FY26 profit concentration declined by 1.25 percentage points from 94.96% in FY25 and by 1.83 percentage points from 95.54% in FY24. Its allocated profit nevertheless rose from Rs 24,794.8 crore in FY25 to Rs 28,173.2 crore in FY26. Over the same period, the Schedule III consolidated profit-or-loss allocation increased from Rs 26,110.2 crore to Rs 30,064.3 crore.

The lower percentage means that other group enterprises represented a slightly larger share of FY26 profit or loss, not that Reliance Jio Infocomm ceased to dominate the allocation. Its 93.71% share was 92.47 percentage points above the 1.24% reported for Reliance Jio Infocomm Pte. Ltd., the next-largest named contributor. This concentration would remain if Reliance Jio Infocomm continues to supply the overwhelming portion of enterprise-level profit or loss and no smaller business materially expands its contribution.

The Schedule III allocation total differs from Jio Platforms’ restated consolidated profit presentation. Restated profit for FY26 was Rs 30,049.1 crore, compared with the Rs 30,064.3 crore total in the enterprise-level allocation table. The supplied financial information does not reconcile these two presentations, so the 93.71% ratio should be assessed against the Schedule III table’s stated total.

What does Reliance Jio Infocomm’s asset share show?

Reliance Jio Infocomm held Rs 2,84,620.3 crore of FY26 net assets, defined as total assets minus total liabilities, representing 84.71% of Jio Platforms’ Rs 3,35,976.9 crore consolidated net assets. The share was close to 84.59% in FY24 and below the 85.86% reported in FY25. The three-year comparison shows that asset concentration remained above 84% despite changes in the reporting perimeter and intra-group balances.

Jio Platforms, the parent company, represented 63.19% of FY26 consolidated net assets before consolidation eliminations and generated 4.26% of the profit-or-loss allocation, or Rs 1,280.8 crore. Reliance Jio Infocomm’s corresponding 93.71% profit allocation indicates that the parent’s standalone result did not account for most group earnings. The disclosure therefore links the group’s reported earnings predominantly to Reliance Jio Infocomm rather than to the parent’s standalone operations.

Consolidation eliminations explain why entity-level net-asset percentages should not be added as separate external businesses. FY26 eliminations were negative 51.84% of consolidated net assets, or negative Rs 1,74,166.7 crore, after the table listed the parent and subsidiaries. These adjustments remove intra-group balances and transactions when producing the consolidated accounts.

Which smaller businesses affected the FY26 allocation?

Saavn Media Limited had 2.15% of consolidated FY26 net assets, or Rs 7,232.2 crore, but recorded a negative 0.18% profit-or-loss share, equal to a loss of Rs 53.7 crore. Mimosa Networks, Inc. represented 0.22% of net assets and 0.19% of profit or loss, while Radisys Corporation represented 0.19% of net assets and 0.10% of profit or loss. These figures show that assets and profit contributions differed across the smaller businesses.

Other comprehensive income, which covers specified income and expense items excluded from profit or loss, produced a different allocation pattern in FY26. Reliance Jio Infocomm represented 7.44% of other comprehensive income, or Rs 69.9 crore, but 91.10% of total comprehensive income. Jio Platforms represented 74.14% of other comprehensive income, or Rs 696.2 crore, showing that profit-or-loss concentration and total-comprehensive-income concentration are not identical measures.

Jio Platforms consolidated 35 subsidiaries as at 30 June 2026, including Reliance Jio Infocomm at 100% ownership and several Reliance Jio Infocomm-linked foreign subsidiaries. Asteria Aerospace Limited ceased to be a subsidiary on 25 March 2026, and Two Platforms Inc. ceased to be an associate on 18 October 2025. Such changes in the consolidation perimeter can affect subsequent enterprise-level allocations even if Reliance Jio Infocomm’s underlying performance does not change.

Conclusion

Reliance Jio Infocomm accounted for 93.71% of Jio Platforms’ FY26 Schedule III profit-or-loss allocation and 84.71% of consolidated net assets. Its profit share declined from 94.96% in FY25, but its allocated profit increased by Rs 3,378.4 crore to Rs 28,173.2 crore, leaving group earnings heavily concentrated in the telecom operating subsidiary.

The next disclosures will show whether smaller businesses continue to gain a larger share of the consolidated allocation. Jio Platforms disclosed that Radisys Cayman Limited merged with Radisys International LLC on 31 July 2026, after the three months ended 30 June 2026; future reporting can show how that internal restructuring changes the presentation of foreign subsidiaries.