Jio Platforms shares rise 3 per cent after strong Q2 results
The company reported a 14 per cent year-on-year rise in consolidated net profit to ₹8,389 crore for the September quarter.
Jio Platforms shares rose by as much as 3 per cent during Monday's trading session after the company reported its first quarterly results since its stock market listing. According to Mint, the shares opened at ₹1,465 apiece and touched an intraday high of ₹1,475 on 2 November.
The company reported a 14 per cent year-on-year rise in consolidated net profit to ₹8,389 crore for the September 2026 quarter. This follows a net profit of ₹7,379 crore in the same quarter last year. On a quarter-on-quarter basis, net profit grew 8 per cent from ₹7,765 crore in the June quarter.
Revenue from operations increased 11 per cent year-on-year to ₹40,475 crore. BusinessLine reported that revenue also rose 3.3 per cent sequentially from ₹39,173 crore in the previous quarter.
The growth was driven by subscriber additions, expansion in digital services, and an improvement in average revenue per user (ARPU), which reached ₹218.8. Jio added 9.1 million net subscribers during the period, and its 5G subscriber base reached 300 million by the end of September.
Brokerage firm Motilal Oswal has reiterated a ‘buy’ rating on Jio Platforms with a revised target price of ₹1,515. The firm noted that near-term share price movements may remain volatile due to a limited free float of less than 3 per cent.