Reliance Jio IPO: "Advancing steadily towards listing", says Mukesh Ambani in Q4 commentary

Ambani said that Jio continues to transform India’s digital landscape.

“I am happy to note that we are advancing steadily towards the listing of Jio Platforms. This will mark a defining milestone in its journey as it continues to scale new heights and contribute to India’s digital future.”

“Robust full-year EBITDA growth of 19% was driven by continuing traction in mobility, home broadband, and enterprise services. As we work to democratise access to AI tools and next-generation technology platforms, Jio is well placed to shape how India communicates, computes, and consumes content in the years ahead,” the chairman added.

Jio Platforms Q4 FY26 earnings

Jio Platforms posted a 13% increase in profit after tax (PAT) to ₹7,935 crore in the March quarter (Q4 FY26), Reliance Industries Ltd said in a company filing on Friday.

The company had posted a PAT of ₹7,022 crore in the year-ago period.

The revenue from operations during the quarter increased 12.5% to ₹38,259 crore from ₹39,853 crore logged in the year-ago period.

The average revenue per user (ARPU) of the company, which houses telecom firm Reliance Jio, increased 3.8% to ₹214 during the reported quarter from ₹206.2 a year ago.

The company said that Jio’s operating revenue increased 12.6% YoY, led by strong subscriber addition, higher ARPU, and continued growth in digital services.

EBITDA increased by 17.9% Y-o-Y to ₹20,060 crore, driven by steady revenue growth and margin expansion of 230 bps.

Other highlights

• Per capita data consumption was 42.3 GB/month with total data traffic growth of nearly 35% Y-o-Y during 4Q FY26.

• Monthly churn was stable at 1.7% with a net subscriber addition of 9.1 million during the quarter, the company said.

• Jio’s network leadership in 5G continued to attract subscribers, with a total 5G subscriber base reaching 268 million as of March 2026. Customer engagement also remains robust, with 5G now accounting for ~55% of total wireless traffic.

• Jio is driving the industry-wide fixed broadband market growth with the addition of ~10 million during FY26. Total fixed broadband subscribers as of March 2026 stood at 27.1 million, giving Jio the market share of ~43%, up 10 percentage points in the last 12 months.

"Jio AirFiber, with a total base of around 13 million subscribers, has driven more than 75% of the fixed broadband additions during the year," the press release added.

IPL season

The IPL season of 2026 is expected to provide a significant seasonal demand tailwind, consistent with strong uplift patterns observed in previous years.

During the quarter, Jio launched a new JioHome Cricket Season Packs offer with JioHome quarterly plans. The new plans bundle 1000+ digital TV channels, unlimited WiFi, and up to 16 premium OTT apps into a single, zero-hassle connection at an effective price of just ₹ 555 per month.

What the Chairman of Reliance Jio Infocomm said

Akash M. Ambani, Chairman of Reliance Jio Infocomm, said, “Jio played a crucial role in connecting India to the Internet era and, with over 524 million subscribers across India, is now positioned as the digital gateway to the intelligence era.”

“Jio's state-of-the-art connectivity and edge compute infrastructure make it the principal gateway through which AI services reach Indian consumers, households, and businesses. This will sustain Jio's industry-leading growth for many years to come,” the chairman of the vertical added.