RIL Q1 Results: Jio ARPU rises to ₹215.6, subscriber base crosses 533 million; files DRHP for IPO

Reliance Industries Ltd.'s telecom arm, Jio Platforms, reported a steady improvement in its key operating metrics for the June quarter, Reliance Industries said on Friday, July 17, with average revenue per user (ARPU) rising to ₹215.6 from ₹214 in the March quarter and ₹208.8 a year ago.

The company's subscriber base stood at 533.3 million, compared with 524.4 million in the previous quarter and 498.1 million a year earlier, with net additions of 8.9 million during the quarter and 35.2 million over the past year.

ARPU growth was 0.7% sequentially, compared with 3.8% sequentially in the March quarter, while year-on-year growth stood at 3.3%.

Jio Platforms reported revenue of ₹45,961 crore for the quarter, 12% higher year-on-year, while revenue from operations rose 11.8% to ₹39,173 crore. EBITDA came in at ₹20,865 crore, up 15.1% YoY, with margins at 53.3%, compared with 51.8% a year ago. Profit after tax increased 9.2% year-on-year to ₹7,764 crore.

Also Read: Reliance Industries Q1 Results LIVE Updates

Commenting on the performance, Reliance Industries Chairman and Managing Director Mukesh Ambani said, "The Digital Services business continued its growth momentum during the quarter. Jio's performance across mobility, home broadband and enterprise services remained strong, driving healthy earnings growth of 15% year-on-year."

The company's 5G subscriber base stood at 285 million as of the end of the June quarter, accounting for around 1.5x the data traffic of 4G users. Total data traffic rose 26.9% year-on-year to 69.4 billion GB, while per capita data consumption stood at 43.7 GB per month.

Jio's fixed broadband subscriber base reached 28.6 million, while JioAirFiber subscribers stood at around 14 million, contributing more than 75% of fixed broadband additions over the last 12 months.

The company said its monthly churn stood at 1.6%, compared with 1.7% in the previous quarter.

Piyush Pandey, Centrum Broking, said Jio's quarterly performance was largely in line with expectations, with subscriber additions remaining the key highlight.

"The Jio numbers are broadly in line with estimates. The standout factor is the strong subscriber addition of around 9 million quarter-on-quarter, while ARPU growth of nearly 1% sequentially is also broadly in line with expectations."

Gurmeet Chadha, Managing Partner & CIO, Complete Circle, said the numbers met expectations overall, though he would have preferred stronger ARPU growth.

"The Jio numbers are broadly in line, though I would have liked to see stronger ARPU growth because the industry needs ARPUs to move higher. On that front, I am a touch disappointed. However, with the IPO around the corner, there are several positive factors at play. The company is expected to raise around $4 billion, and a significant portion of the proceeds could be used for debt reduction and future growth initiatives."

Jio Platforms IPO

On the proposed listing, Ambani said, "During the quarter, Jio Platforms Limited filed its DRHP with SEBI, a significant step towards its public listing. The upcoming IPO will be an important milestone in Jio's journey and will give investors an opportunity to participate in India's digital growth story."

He added that the start of FY27 gives him reason to be optimistic "as we move forward with phased commissioning of new energy projects and unlock value through the Jio IPO."

Shares of Reliance Industries closed 2.5% higher at ₹1,328.80 ahead of the earnings announcement on Friday. The stock has declined about 16% so far in 2026.

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