Jio Platforms Ltd Q2 Profit Rises 14% as ARPU Improves

Jio Platforms Ltd reported Q2 FY27 net profit of Rs 8,389 crore, up about 14% year on year, while revenue rose 11.4% to Rs 40,475 crore. Higher average revenue per user, 9.1 million quarterly subscriber additions and expanding 5G usage supported the digital services business in its first quarterly disclosure after listing.

How did Jio Platforms perform in Q2 FY27?

Jio Platforms delivered double-digit growth in revenue, EBITDA and profit during the September quarter. Net profit rose to Rs 8,389 crore from Rs 7,379 crore a year earlier, while revenue from operations increased to Rs 40,475 crore from Rs 36,332 crore. The result marked the company's first quarterly earnings release after its October 28 listing.

Operating performance also improved. EBITDA rose 16.6% year on year to Rs 21,879 crore, and the EBITDA margin expanded by 250 basis points to 54.1%. The margin expansion indicates that earnings grew faster than revenue during the quarter, alongside gains in telecom and digital services monetisation.

What drove Jio Platforms' revenue and profit growth?

Jio Platforms' growth was driven by subscriber additions, a higher average revenue per user and broader digital-services adoption. ARPU rose to Rs 218.8 a month from Rs 211.4 in the corresponding quarter last year and Rs 215.6 in the preceding quarter. This sequential improvement is important because ARPU is a direct measure of revenue earned from each customer.

The company added 9.1 million subscribers during the quarter, compared with 8.3 million additions a year earlier. Its total customer base reached 542.4 million at the end of September 2026. Data traffic rose 22.1% year on year, reflecting the increased use of mobile data across the network.

Jio Platforms also reported more than 300 million 5G users, representing over 56% of its customer base. The combination of a larger base, greater data use and a higher ARPU supported revenue and EBITDA growth. The results place subscriber monetisation at the centre of the company's reported earnings momentum.

Why are 5G users and ARPU important for Jio Platforms?

5G users and ARPU are important because they show whether network expansion is translating into higher customer spending and operating income. Jio Platforms ended the quarter with 300 million 5G subscribers, while its 5G data traffic reached 71.3 billion gigabytes. These metrics point to the scale of 5G adoption within its subscriber base.

A rising ARPU can support earnings even when competition remains intense. Jio Platforms' monthly ARPU of Rs 218.8 was higher both year on year and quarter on quarter. The company also reported total voice traffic of 1.52 trillion minutes, up 1.3%, showing that the network continued to handle substantial usage across services.

Investors will assess whether the higher ARPU is sustained in future quarters and whether subscriber growth continues at a similar pace. Expansion in 5G and fixed broadband services is also a stated area to track, as these businesses could influence both revenue growth and operating margins.

What could the Q2 results mean for Jio Platforms shares?

The Q2 results give investors the first listed-company earnings data against which to judge Jio Platforms' valuation and operating trajectory. The company completed a Rs 30,188-crore IPO and listed at a 26.7% premium to its issue price, with market capitalisation subsequently reported at around Rs 13.1 lakh crore. Its shares had attracted attention as the first post-listing results approached.

The earnings release itself does not establish a future share-price direction. However, the reported profit growth, margin expansion, ARPU increase and subscriber additions provide the operating measures that investors are likely to compare against expectations. Before the results, Jio Platforms shares had also seen mixed trading, including a session in which they closed 0.6% higher at Rs 1,431.30.

For Reliance Industries, Jio Platforms' digital-services performance remains one part of a broader earnings picture. Reliance Industries reported Q2 FY27 revenue of Rs 3.62 lakh crore, up 27.8% year on year, and EBITDA of Rs 62,409 crore, up 23.9%. Investors will also monitor the recovery in the oil-to-chemicals business and profitability in retail.

Which metrics will investors watch after Jio Platforms' first listed results?

Investors will watch the pace of subscriber additions, ARPU progression, data consumption and EBITDA margin after Jio Platforms' first reported quarter as a listed company. These indicators will help determine whether the company can maintain the growth seen in Q2 FY27. The 9.1 million net additions and Rs 218.8 ARPU provide the current base for those comparisons.

The scale and monetisation of the 5G base will remain particularly relevant. Jio Platforms has crossed 300 million 5G users, but future assessments will focus on whether network usage and digital offerings continue to translate into higher revenue per user. Fixed broadband expansion is another parameter highlighted for investor attention.

At the Reliance Industries level, the sustainability of oil-to-chemicals earnings, recovery in retail profitability, and returns from investments in new energy and other businesses will also shape the wider group outlook. This means the market may consider Jio Platforms' standalone metrics alongside developments in the parent's other major businesses.

Conclusion

Jio Platforms' Q2 FY27 results showed higher revenue, profit and operating margin, supported by rising ARPU, subscriber additions and 5G adoption. The company reported Rs 8,389 crore in net profit and Rs 40,475 crore in revenue, providing its first earnings reference point after the IPO and market listing.

The next focus will be whether Jio Platforms can sustain ARPU growth, add subscribers at a similar rate and expand 5G and fixed broadband services. For Reliance Industries, investors will also watch oil-to-chemicals earnings, retail profitability and the longer-term returns from new-energy and other investments.