Jio Platforms Ltd (JPL), the parent company of India's largest telecommunications service provider Reliance Jio, presented its results for the first quarter of the fiscal year 27. The company reported a net profit of ₹7,764 crore, which is 9.2% higher compared to the same period last year. Revenue increased by 12%, reaching ₹45,961 crore.
Compared to the previous quarter, profit decreased from ₹7,935 crore, however, revenue grew from ₹44,928 crore. As part of the upcoming Initial Public Offering (IPO), the company plans to raise approximately ₹37,700 crore.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, noted on Friday, following the announcement of Q1 FY27 results, that the forthcoming IPO will be an important milestone in Jio's development, providing investors with an opportunity to participate in India's digital growth story. Ambani also emphasized that the digital services business continued to accelerate its growth pace during the quarter, and Jio's metrics in mobile, home broadband, and enterprise segments remained strong, ensuring healthy revenue growth of 15% year-on-year.
The quarterly EBITDA grew by 15.1% year-on-year, amounting to ₹20,865 crore. The company attributed the margin increase to a rise in Average Revenue Per User (ARPU) and operating leverage by 230 basis points. ARPU, which is the monthly profitability metric for a telecom provider, reached ₹215.6, slightly higher than ₹214 in Q4 FY26. However, year-on-year ARPU grew by 3.3% compared to ₹208.8, thanks to improved subscriber base structure and positive seasonality, although this was partially offset by promotional programs for fixed broadband customers.
Akash M Ambani, Managing Director of Jio Platforms Ltd, stated that Jio has established itself as a deep technology company and has demonstrated the speed of innovation adoption across various advanced fields. He highlighted the company's strong portfolio of globally recognized patents. The company intends to leverage these technologies to offer an ever-expanding range of services to every citizen of India and ensure long-term industry leadership growth.
JPL ranks among the top 20 global companies according to the latest Patent Cooperation Treaty (PCT) rankings published by the World Intellectual Property Organization. The company reported that it climbed 320 positions in this ranking in 2025, becoming one of the fastest-growing innovators globally and entering the elite group of world technology leaders. Akash Ambani added that, starting the next phase toward public company status in India, they will continue to focus on deep technologies and democratize access to digital connectivity and digital services both in India and worldwide. Jio's patent portfolio focuses on next-generation digital technologies, including 5G, 5G Advanced, 6G, artificial intelligence, AI-based networks, cloud platforms, intelligent automation, radio access, network core software, edge intelligence, fixed wireless access, network slicing, and digital service infrastructure.
As of June 2026, Reliance Jio had 533.3 million users, of whom 285 million were 5G subscribers, accounting for over 54% of the customer base. During the quarter, the operator acquired an additional 8.9 million subscribers. 5G traffic volume in the quarter reached 69.4 billion gigabytes, nearly 27% more than the previous year. Meanwhile, total voice traffic increased by 2% to 1.52 trillion minutes. Over the last 12 months, 73 million 5G customers were added. The company also noted that customer engagement remains high: 5G traffic volume is now approximately 1.5 times the 4G traffic volume.
The consolidated profit of Jio Financial Services Limited after tax increased by 156% compared to the previous year, reaching 830 crore rupees for the quarter ending June 30, 2026. This growth resulted from an increase in revenues and operating profit across the company's financial services portfolio.
Total consolidated revenue, excluding dividend payouts, grew by 141% to 1,496 crore rupees in the first quarter of 2026-27. Operating profit before provisions, also excluding dividends, increased by 38% to 505 crore rupees. Profit before tax, excluding dividends, rose by 18% to 461 crore rupees after adjusting last year's figure for a one-time exceptional income of 29 crore rupees. Meanwhile, profit before tax, including dividends, increased by 131% to 970 crore rupees.
Gross assets under management at Jio Credit, the group's non-banking financial company, expanded 2.6 times compared to last year, reaching 30,667 crore rupees. Gross disbursements increased 2.7 times during the reporting quarter, amounting to 11,252 crore rupees. The portfolio consisted of mortgage loans, which accounted for 45.4%, corporate and SME loans at 44.2%, and securities-backed retail loans at 10.4%. Jio Credit's net interest income grew by 118% to 257 crore rupees, and profit after tax increased by 113% to 96 crore rupees. The company's total equity as of June 30 was 1.37 trillion rupees. The company received a second tranche of 5,934 crore rupees from its promoter group, leading to a cumulative capital infusion of 9,890 crore rupees.
The company reported a successful operational turnaround in the Jio Payments Bank and Jio Payment Solutions divisions during the reporting period. Jio Payments Bank's total revenue increased 7.7 times compared to last year, reaching 83 crore rupees, while customer deposits grew by 72%, totaling 617 crore rupees. The customer base with current and savings accounts increased by 51% to 3.9 million accounts. The bank's active network of business correspondents expanded to 527,037 touchpoints, up from 50,192 the previous year and 378,568 in the previous quarter. Jio Payment Solutions' total payment volume grew 2.5 times compared to last year, reaching 19,208 crore rupees. Gross income from fees and charges increased 6.4 times to 176 crore rupees, and net income from fees and charges grew 3.4 times to 24 crore rupees. The net processing margin was 12 basis points.
Assets under management in the joint venture between Jio Financial Services and BlackRock increased sequentially by 21%, reaching 18,412 crore rupees. Liquid fund assets exceeded 10,000 crore rupees. The company noted that 44% of investors have active systematic investment plans, and 36% of retail assets originate from outside the country's top 30 cities. Investors new to mutual funds accounted for 18.5% of the investor base. The joint venture received final approval from the International Financial Services Authority to operate as a retail fund manager in GIFT City. In the insurance sector, Jio Insurance Broking provided premiums worth 238 crore rupees, 1.6 times more than the previous year, and fee and commission income grew by 131% to 61 crore rupees. Allianz Jio Reinsurance underwrote gross premiums of 266 crore rupees in its first full quarter of operation. Jio Allianz General Insurance was established as an equal joint venture, and statutory and regulatory approvals are currently underway. The JioFinance mobile application had 25 million unique users and registered an average of about 34,000 product purchases per day in June. The rewards program issued over 204 million JioPoints to 5.7 million registered customers.
Piramal Finance demonstrated significant growth in its financial indicators in the first quarter ending June 30, 2026. The company's consolidated net profit increased by 66.8 percent compared to the same period last year, reaching INR 460.98 crore. Meanwhile, total income grew by 27.5 percent.
The company's operating revenue increased by 27.6 percent, amounting to INR 3,368.27 crore in the first quarter of the 2026-27 fiscal year (Q1FY27). This figure is higher than INR 2,639.25 crore a year earlier. Additional income also rose by 20.5 percent, reaching INR 61.27 crore, leading to a total income of INR 3,429.54 crore.
Interest income contributed the most to the revenue, increasing by 28.9 percent year-on-year to INR 3,085.48 crore. Income from commissions and fees grew by 11 percent, totaling INR 126.83 crore. The company's total expenses increased by 25 percent, rising from INR 2,467.44 crore to INR 3,085.42 crore.
Financial costs increased by 16.2 percent, reaching INR 1,733.86 crore, while employee benefit expenses rose by 11.8 percent, amounting to INR 504.16 crore. Other expenses grew by 8.2 percent, reaching INR 329.21 crore. During the quarter, the company recorded impairment reserves of INR 273.59 crore, contrasting with the reversal of reserves of INR 226.83 crore in the corresponding period last year.
Profit attributable to interests in affiliates and joint ventures, excluding exceptional items and taxes, increased by 54.5 percent, reaching INR 344.12 crore. The group's share in the net profit from affiliates and joint ventures grew by 26.2 percent, amounting to INR 98.87 crore. Consequently, profit before tax increased by 47.2 percent, reaching INR 442.99 crore from INR 301.03 crore a year earlier. Basic earnings per share rose to INR 20.38 from INR 12.22, and diluted earnings per share reached INR 20.27 compared to INR 12.13.
Other comprehensive income amounted to INR 200.15 crore compared to INR 33.13 crore a year earlier, including a share in other comprehensive income from affiliates and joint ventures of INR 155.12 crore. Total comprehensive income increased to INR 661.13 crore from INR 309.50 crore. Net profit attributable to owners of the company was INR 459.12 crore, and profit attributable to non-controlling interests was INR 1.86 crore. The Board of Directors also approved the possibility of raising up to INR 4,000 crore through the issuance of equity shares, convertible securities, unsecured bonds with warrants, or other equity-related instruments, subject to market, regulatory, and shareholder requirements.
