Jio Financial Services reported a 155% year-on-year jump in consolidated net profit to ₹830 crore for the April-June quarter of FY27, compared to ₹325 crore in the same period last year. According to reports from Business Standard, the company's consolidated total income rose 141% YoY to ₹1,496 crore from ₹619 crore a year earlier, up 47% from ₹1,020 crore in the March quarter. The strong performance was driven by robust growth across its lending, payments, asset management and insurance businesses. As reported by NDTV Profit, the telecom arm of billionaire industrialist Mukesh Ambani's conglomerate also logged a sequential increase in consolidated net profit during the quarter ended June, with the bottom-line reaching ₹7,764 crore compared to ₹7,317 crore in the March quarter of FY26. Shares of Jio Financial Services rose more than 3.5% in intraday trade on Friday, with the stock trading at ₹243.90 on the NSE, up ₹8.25 from its previous close of ₹235.65, outperforming the Nifty 50's 0.8% gain during the same period.
The company's Average Revenue Per User (ARPU) stood at ₹215.6 during the quarter under review, representing an increase from ₹208.8 reported in the same period in the last fiscal year and ₹214 reported in Q4 FY26. As reported by Business Standard, this growth demonstrates the company's ability to monetize its subscriber base effectively, with ARPU up 3.3% year-on-year driven by better subscriber mix and positive seasonality, partly offset by promotional schemes for fixed broadband customers. The EBITDA increased over 15% YoY to ₹20,865 crore, while the EBITDA margin improved 230 basis points to 53.3% in the first quarter of FY27. The company also achieved record quarterly EBITDA of ₹20,865 crore, up 15.1% YoY with the highest EBITDA margin of 53.3%, up 230 basis points year-on-year. According to NDTV Profit, the ARPU increased marginally to ₹215.6, compared to ₹214 in the previous quarter, while the subscriber base expanded to 533.3 million from 524.4 million in the previous quarter.
According to Business Standard, the company's digital services revenue grew 20% YoY, driven by strong performance in content, cloud compute, IoT and managed services. The connectivity business also delivered double-digit growth of 11% YoY, demonstrating the company's diversified revenue streams beyond traditional telecom services. The company's gross revenue increased 12% YoY to ₹45,961 crore, with operating revenue rising 11.8% YoY driven by continued gains in subscriber market share, organic ARPU growth and scale-up of digital services. As reported by Business Standard, Jio's digital services business continued its growth momentum during the quarter, with performance across mobility, home broadband and enterprise services remaining strong, driving healthy earnings growth of 15% year-on-year. The company now has more than 25 million unique users across its digital platforms.
The company's lending business continued to expand significantly, with assets under management more than doubling year-on-year to ₹30,667 crore. Its asset management business also recorded strong growth, with assets under management rising 21% from the previous quarter to ₹18,412 crore. According to the company's exchange filing, liquid fund assets under management crossed ₹10,000 crore during the quarter. Allianz Jio Reinsurance Ltd. reported gross written premiums of ₹266 crore in its first full quarter of operations. The quarterly profit included a fair value gain of ₹439.16 crore from the remeasurement of its investment in Jio Payments Bank Ltd. following the acquisition of the business by its parent, which was higher than the goodwill of ₹410.59 crore recognised for the transaction. As reported by NDTV Profit, the performance for the quarter reflects the accelerating momentum across the entire business portfolio, led by sustainable loan book growth at Jio Credit Limited, JFSL's lending franchise, alongside the scaling up of the asset management and payments businesses.
Despite Friday's gains, Jio Financial Services shares have declined more than 23% over the past year, with the Nifty 50 falling 3.4% during the same period. The stock traded at a price-to-earnings ratio of 86.7 based on the previous session's closing price, with the company having a market capitalisation of ₹1,61,288.4 crore at the close of the previous session. According to NDTV Profit, 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. JPL emerged as one of the fastest rising innovators globally as per PCT Rankings of WIPO, highlighting the company's technological innovation capabilities. The company's total subscriber base now stands at over 533 million, including 285 million 5G subscribers, accounting for more than 54% of its customer base, with per capita data consumption reaching 43.7 GB/month and total data traffic growing 26.9% YoY to 69.4 billion gigabytes during Q1 FY27.
