Summary:
Ahead of its planned $4 billion IPO, Jio Platforms reported strong Q1 FY27 performance, with revenue rising 12% year-on-year and EBITDA increasing 15.1%. The company expanded its subscriber base to over 533 million, including 285 million 5G users, while its fixed broadband business grew to 28.6 million customers, led by JioAirFiber’s 14 million subscribers. Alongside strong financial growth, Jio is accelerating investments in advanced technologies, expanding its global patent portfolio, and strengthening its AI and satellite communication ambitions as it prepares for its public market debut.
As it moves closer to its planned initial public offering (IPO), through which it aims to raise approximately $4 billion, Jio Platforms Limited (JPL), the digital technology arm of Reliance Industries Limited (RIL), has reported strong financial growth for the first quarter of FY27, which ended on June 30. During the quarter, the company recorded a 12% year-on-year increase in revenue and a 15.1% rise in EBITDA (earnings before interest, taxes, depreciation and amortisation).
The performance figures were announced alongside Reliance Industries’ quarterly financial results. Jio Platforms’ portfolio extends well beyond its flagship telecom business, Reliance Jio, encompassing fixed broadband, digital applications, enterprise connectivity solutions, artificial intelligence, and a wide range of digital services.
Recently appointing a new Chief Executive Officer, Jio Platforms generated ₹45,960 crore (approximately $4.76 billion) in revenue during the quarter, while EBITDA reached nearly ₹20,870 crore (around $2.16 billion). By the end of June, the company had expanded its overall subscriber base to more than 533 million, including 285 million 5G users, reflecting an annual increase of 73 million. According to the company, around 57% of its mobile subscribers are now using 5G services.
The company’s fixed broadband business also continued its rapid expansion. Its subscriber base grew by 8.6 million year-on-year to reach 28.6 million customers, giving Jio a claimed fixed broadband market share exceeding 43%. This figure includes subscribers using JioAirFiber, the company’s fixed wireless access (FWA) service, which has now crossed 14 million users.
Jio Platforms also reported an improvement in its average revenue per user (ARPU), which increased 3.3% year-on-year to ₹215.6.
Alongside expanding its consumer business, the company is accelerating investments in proprietary technologies and intellectual property. Its strategy involves developing and patenting next-generation platforms for deployment in India while also commercialising these technologies internationally. Similar to how Rakuten Symphony markets technology developed by Japan’s Rakuten, Jio Platforms intends to license and sell its own innovations in global markets. Earlier this year, the company appointed Dan Bailey, formerly Chairman of Deutsche Bank’s Telecom, Media and Technology practice, to lead its international business expansion.
Supporting this strategy, Jio Platforms recently entered the top 20 globally in the latest Patent Cooperation Treaty (PCT) rankings published by the World Intellectual Property Organization (WIPO). The company now ranks alongside major global technology firms including Huawei, Samsung, Qualcomm, LG, Panasonic, Nokia, Google, Apple, and Microsoft. Its growing patent portfolio focuses on advanced technologies such as 5G, 5G-Advanced, 6G, artificial intelligence, AI-native networks, cloud-native platforms, intelligent automation, radio access technologies, core network software, edge computing, fixed wireless access, network slicing, and digital services infrastructure.
Commenting on the achievement during the quarterly earnings announcement, Akash Ambani, Managing Director of Jio Platforms, said the company has established itself as a deep technology organisation with rapid innovation across several advanced technology domains. He noted that its expanding patent portfolio reflects global recognition of its technological capabilities and added that Jio plans to leverage these innovations to broaden digital connectivity and digital services for customers in India and overseas. He also said that as the company prepares for its public listing in India, it will continue investing in deep technologies while expanding access to digital services globally.
Meanwhile, Reliance Industries is continuing to strengthen its wider technology strategy. After establishing its artificial intelligence subsidiary, Reliance Intelligence, last year, the group has announced plans to develop an indigenous low-Earth orbit (LEO) satellite constellation to provide sovereign satellite communication services across India. In addition, Reliance intends to invest $110 billion over the next seven years in AI infrastructure, with Jio Platforms expected to play a central role in driving these initiatives.
