Jio Platforms sees strong subscriber revenue growth as parent Reliance reports better-than-expected Q2’25 numbers

Mukesh Ambani-owned Reliance Industries Limited (RIL) had an above-expectations quarter – for the second quarter of the fiscal year 2024-25 (Q2 FY25), the company clocked a consolidated net profit of ₹16,563 crore, marking an annual drop of 4.78%. Still, it exceeded analyst expectations of ₹15,716 crore. Its revenue from operations for the same period amounted to ₹2.35 lakh crores, marking a short increase of 0.2% on an annual basis.

Jio Platforms – Reliance’s holding company for the largest mobile network in the country – has profited extensively during the second quarter. Driven by strong subscriber additions and effective tariff hikes, it reported a record profit of ₹6,536 crore for the quarter, marking an annual growth of 23.4%. Its revenue from operations for the same period also clocked a growth of 18% to amount to ₹31,709 crore.

As of September, Jio had nearly 479 million subscribers (including 130 million 5G users) – marking a year-over-year growth of 4.2%. It also seems that users have been spending more on Jio – the average revenue per user (ARPU) rose to ₹195.1 as well. This marks well for Jio, especially since it comes at a time when the domestic digital services sector is expected to witness a quarterly growth of 10%. Its EBITDA is likely to improve by 2% as well, while the per capita consumption rose to 30.3 GB on a monthly basis.

“Right from inception, Jio has focused on deep tech innovation to create customer and shareholder value. The ongoing transformation created by Jio True5G and JioAirFiber in India’s digital landscape is a testament to this approach. AI is creating the next runway for this transformation, and Jio is committed to developing the world’s best AI ecosystem in India, for all Indians. Jio is committed to delivering robust shareholder returns and has demonstrated strong uplift in financial performance in the current quarter,” Akash M Ambani, Chairman of Jio Infocomm, commented on the matter.

Coming to the other units of Reliance, its Reliance Retail Ventures – the aegis under which the retail businesses under RIL operate – noted a QoQ rise of 20% in its profit after tax – which amounted to ₹2,935 crore. Similarly, its EBITDA rose marginally to ₹5,861 crore, while its revenue from operations, on the other hand, slightly fell to ₹76,325 crore. “The retail segment continues to increase its consumer touchpoints and product offerings across physical and digital channels. The unique omni-channel retail model enables the business to service a wide range of requirements of a vast, heterogenous customer base,” Ambani commented on the matter.

“Reliance Retail continues to make investments in technology and infrastructure to build a strong foundation for future growth and maintain market leadership. We continue to strengthen our customer proposition with innovative products that spans everyday essentials to premium offerings. By continuously enhancing our assortment and innovating across categories, we are creating a shopping experience that meets the evolving needs of our customers and reinforces our leadership in the retail space,” Isha M. Ambani, Executive Director at Reliance Retail Ventures Limited, said.

Its Oil-to-Chemicals (O2C) division clocked a decent growth over the quarter, rising to ₹1.55 lakh crore, while its oil and gas unit clocked a decrease in its revenue, which amounted to ₹6,222 crore for the quarter.

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