Reliance Industries Limited (RIL) reported consolidated gross revenue of Rs 2.93 lakh crore for the quarter ended December 31, 2025, up 10% year-on-year (YoY), while earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 6.1% to Rs 50,932 crore.

In the same quarter, Jio surpassed 250 million 5G subscribers, bringing the total subscriber base to over 515 million: underscoring the scale of digital operations as the group released its Q3FY26 performance statistics.

Overall, Reliance said its EBITDA margin stood at 17.3%, compared with 18% a year earlier, meanwhile depreciation rose 10.9% to Rs 14,622 crore. To explain, a company’s EBITDA margin indicates how much it earns from its core operations as a percentage of revenue.

Furthermore, finance costs increased 7% to Rs 6,613 crore in Q3FY26: largely due to the operationalisation of 5G spectrum assets. Profit before tax came in at Rs 29,697 crore, up 3.7% YoY, while tax expenses increased 10.1% to Rs 7,530 crore. Consequently, profit after tax (PAT) stood at Rs 22,167 crore, up 1.7% YoY.

Elsewhere, capital expenditure (excluding amount incurred towards spectrum) during the Q3FY26 quarter stood at Rs 33,826 crore.

Jio Platforms’ Revenue Rises As Subscribers Surpass 515 Million Mark

Jio Platforms Limited closed the Q3FY26 quarter with a total subscriber base of over 515 million, driven by sustained adoption of 5G and fixed broadband. During the period, Jio surpassed 250 million 5G subscribers, while its fixed broadband base exceeded 25 million. Consequently, customer engagement strengthened, with total data traffic rising 34% YoY to more than 62 exabytes. Meanwhile, Jio AirFiber became the first fixed wireless access (FWA) service globally to surpass 10 million subscribers.

Furthermore, average revenue per user (ARPU) increased to Rs 213.7 per month, supported by higher engagement, even as promotional offers for unlimited 5G and fixed broadband moderated gains. Net subscriber additions stood at 8.9 million for the quarter, while the rate at which customers offboarded remained stable at 1.8%.

Against this operational backdrop, Jio Platforms reported quarterly gross revenue of Rs 43,683 crore, up 12.7% YoY, while revenue from operations rose at the same pace to Rs 37,262 crore. Quarterly EBITDA climbed 16.4% YoY to Rs 19,303 crore, supported by operating leverage and EBITDA margin expansion of 170 basis points (bps).

Depreciation increased 13.9% YoY to Rs 6,939 crore, while finance costs jumped 66.7% YoY to Rs 2,140 crore, reflecting the operationalisation of 5G spectrum assets. Furthermore, PAT rose 11.2% from the previous year’s corresponding quarter to Rs 7,629 crore for Q3FY26.

Meanwhile, Jio continued to expand its digital and cloud footprint. Total connected premises with fixed broadband reached 25.3 million, while JioAirFiber scaled its base to more than 11.5 million subscribers by December 2025.

Additionally, Jio launched the Jio-Gemini offer for unlimited 5G users, and even announced the availability of YouTube Premium for JioHome prepaid users subscribed to plans above the Rs 1,499-per-month threshold.

JioStar Sustains IPL-Quarter Performance In Q3FY26

JioStar sustained strong scale and engagement in Q3FY26, driven by growth across television and digital platforms. During the period, the television network reached more than 830 million television viewers, and delivered over 60 billion hours of watch time. On the digital side, JioHotstar averaged 450 million monthly active users (MAUs), marking a 13% rise quarter-on-quarter (QoQ) and remaining broadly on par with the IPL quarter earlier (Q1FY26).

Notably, India’s first ICC Women’s World Cup-winning final drew 99 million digital viewers, placing it at the same scale as an IPL match. Furthermore, JioStar reported higher entertainment and sports consumption on JioHotstar. The Reliance-owned streaming platform recorded its highest-ever engagement for entertainment content in Q3FY26, led by Bigg Boss across languages and new series’ launches.

Digital sports viewership also increased, with average watch time per men’s ODI and T20 match rising 55% during the year. At the same time, JioStar lifted its TV entertainment viewership share by 100 bps YoY to 34.6% in Q3FY26.

On the financial front, JioStar reported gross revenue of Rs 8,010 crore for Q3FY26, compared with Rs 7,232 crore in the preceding quarter. Revenue from operations stood at Rs 6,896 crore, while EBITDA came in at Rs 1,303 crore for Q3FY26, and PAT stood at Rs 888 crore.

Furthermore, JioHotstar’s parent company recorded an EBITDA margin of 18.9%, meanwhile depreciation for the quarter stood at Rs 343 crore, and finance costs at Rs 62 crore. For the nine months ended December 2025, JioStar posted gross revenue of Rs 26,464 crore, revenue from operations of Rs 22,676 crore, and EBITDA of Rs 4,058 crore.

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