Reliance Jio is expected to report modest sequential growth in revenue and profitability for the first quarter of FY26, driven by a steady increase in subscriber additions and a marginal improvement in average revenue per user (ARPU), according to a CNBC-TV18 poll estimate.Billionaire Mukesh Ambani-led Reliance Industries (RIL) is set to announce its first quarter (April-June) financial results of the fiscal year 2025-26 on Friday, July 18.
Revenue for the quarter is estimated to rise 3% sequentially to ₹30,900 crore, compared to ₹30,018 crore in the previous three months.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) is projected at ₹16,600 crore, up from ₹16,188 crore in Q4FY25, while EBITDA margins are expected to remain broadly stable at 53.7%, slightly lower than 53.9% in the preceding quarter.Profit after tax (PAT) is likely to climb 5% sequentially to ₹6,675 crore, compared to ₹6,642 crore in Q4FY25.
Jio’s revenue growth is expected to be supported by an approximate 2% increase in subscriber base and a 1% uptick in Average Revenue Per User (ARPU), helped by one additional day in the quarter compared to Q4FY25. Jio’s subscriber count is projected to reach 497 million, up from 488.2 million at the end of Q4. ARPU is likely to improve to ₹208 per user from ₹206.2.Recent data from the Telecom Regulatory Authority of India (TRAI) indicates Jio continues to gain market share, as Airtel’s net additions have slowed.
Revenue for the quarter is estimated to rise 3% sequentially to ₹30,900 crore, compared to ₹30,018 crore in the previous three months.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) is projected at ₹16,600 crore, up from ₹16,188 crore in Q4FY25, while EBITDA margins are expected to remain broadly stable at 53.7%, slightly lower than 53.9% in the preceding quarter.Profit after tax (PAT) is likely to climb 5% sequentially to ₹6,675 crore, compared to ₹6,642 crore in Q4FY25.
Jio’s revenue growth is expected to be supported by an approximate 2% increase in subscriber base and a 1% uptick in Average Revenue Per User (ARPU), helped by one additional day in the quarter compared to Q4FY25. Jio’s subscriber count is projected to reach 497 million, up from 488.2 million at the end of Q4. ARPU is likely to improve to ₹208 per user from ₹206.2.Recent data from the Telecom Regulatory Authority of India (TRAI) indicates Jio continues to gain market share, as Airtel’s net additions have slowed.
Management previously indicated that the full impact of the July 2024 tariff hikes will be visible from Q1FY26 onwards, suggesting potential upside for ARPU in the coming quarters.
Over the past year, Jio’s ARPU has climbed steadily from ₹181.7 in Q1FY25 to ₹206.2 in Q4FY25, with Q1FY26 likely marking further gains. Subscriber additions have remained resilient despite some volatility in previous quarters.
EBITDA margins are expected to remain largely stable in the 53-54% range, reflecting operational efficiencies and the benefits of scale.
(Edited by : Ajay Vaishnav)
