Jio Platforms Limited (JPL) has started FY27 on a strong note by reporting a 9.2% year-on-year rise in consolidated net profit. The company is also moving closer to what is expected to become India’s biggest Initial Public Offering (IPO). Along with its financial growth, Jio is expanding its presence in artificial intelligence (AI), cloud services, fixed broadband, and satellite internet, showing its plan to become much more than a telecom company.
The latest quarterly results show higher revenue, better profits, and steady growth in subscribers as the company prepares for its public listing.
Jio Posts Strong Q1 Results as IPO Plans Move Ahead
Jio Platforms has already filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), BSE, and NSE. The company is expected to launch its IPO between August and October 2026.
The IPO will be a completely fresh issue of up to 27 crore equity shares. There will be no Offer for Sale (OFS), which means current investors will not sell their shares during the public issue. Jio plans to raise around ₹35,000 crore to ₹37,700 crore and is targeting a valuation of ₹11 lakh crore to ₹15 lakh crore.
Most of the money raised, around ₹27,500 crore, will be used to repay debt at Reliance Jio Infocomm Limited (RJIL). The remaining amount will be invested in business growth, including AI infrastructure, 5G network expansion, and edge computing.
After the IPO, Reliance Industries Limited will continue as the largest shareholder with a 66.43% stake. Meta and Google will also remain important investors. The company has also kept a reserved category in the IPO for existing Reliance Industries shareholders.
For the quarter ended June 2026, Jio Platforms reported a consolidated net profit of ₹7,764 crore, up 9.2% compared to the same period last year. Revenue from operations increased 12% year-on-year to ₹45,961 crore. EBITDA rose 15.1% to ₹20,865 crore, while the EBITDA margin improved to 53.3%.
The company’s Average Revenue Per User (ARPU) increased to ₹215.6 from ₹214 in the previous quarter. This growth was supported by more users choosing higher-value plans.
Subscriber Growth and AI Expansion Continue
Reliance Jio continued to strengthen its position as India’s largest telecom operator during the June quarter. The company added 8.9 million new subscribers, taking its total customer base to 533.3 million.
Its 5G network also continued to grow rapidly. The number of 5G users reached 285 million, and these users consumed much more data than 4G customers. Overall network data traffic increased by 26.9% year-on-year to 69.4 billion GB during the quarter.
Average monthly data usage per customer reached 43.7 GB, while the monthly churn rate improved slightly to 1.6%.
Jio’s broadband business also performed well. Total fixed broadband subscribers increased to 28.6 million. JioAirFiber crossed 14 million users and contributed more than 75% of the company’s broadband customer additions over the last year. The service continues to expand internet access in areas where fibre connections are difficult to install.
The company is also investing heavily in artificial intelligence. It has partnered with Meta to develop an AI-enabled data centre in Jamnagar, Gujarat. The first phase of the project will have a capacity of 168 MW and will run on renewable energy while using desalinated seawater for cooling.
Jio has also launched JioAICloud, which offers users 100 GB of free cloud storage. Another new service is Jio Call Agent, an AI-powered voice assistant that works directly during phone calls. It supports 22 Indian languages, prepares call summaries, identifies multiple speakers, and can even help users complete tasks such as booking cabs or reserving restaurant tables.
Satellite Internet and Future Growth Plans
Jio is also expanding into satellite-based internet services. The company plans to launch around 1,600 to 1,650 Low Earth Orbit (LEO) satellites at an altitude of about 650 kilometres. The network is expected to provide high-speed broadband, mobile backhaul, and direct-to-device connectivity across India.
The project has already received a positive technical assessment from India’s space regulator, IN-SPACe. Jio has also partnered with SES through their joint venture, Jio Space Technology Limited, to provide satellite broadband using medium Earth orbit and geostationary satellites.
Apart from telecom services, Jio is focusing on new revenue opportunities through premium 5G plans, enterprise private networks, fixed wireless access, and AI infrastructure services. Through its subsidiary Radisys, the company is also exporting its cloud-based 5G and Open RAN technology to telecom operators in Africa, Southeast Asia, and the Middle East.
Although Bharti Airtel continues to have a higher ARPU, Jio has a much larger subscriber base and more 5G users. With improving financial performance, growing digital services, and its much-awaited IPO, Jio Platforms is building a strong position as one of India’s leading technology and digital companies.