Reliance Jio reported Q4FY26 revenue of Rs 38,259 crore, up 13% from Rs 33,986 crore a year earlier. Cons PAT increased 13% YoY to Rs 7,935 crore, while ARPU climbed to Rs 214. The results highlight stronger topline momentum and improving per-user monetisation as the quarter closes.
India’s IPO market has slowed sharply as volatility and weak sentiment, intensified by global shocks like the Iran war, delay new listings. Even with a pipeline exceeding Rs 3 lakh crore, companies are taking a cautious, tactical approach. Analysts believe the lull could be temporary if secondary markets and FII inflows rebound, unlocking backlog deals and more realistic valuations.
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Reliance Industries is reportedly set to file draft IPO paperwork for Jio Platforms in May, a move delayed from March after market downturns. The revised draft could include full fiscal year earnings, offering investors a clearer snapshot. If it proceeds, the listing may become India’s largest-ever IPO, depending on regulatory approvals and market conditions.
While investors watch Reliance Jio’s subscriber gains and Reliance Retail’s relentless expansion, the company’s upstream oil and gas business has been quietly thriving. It delivered one of its best years ever, emerging as Reliance’s most profitable unit. The shift highlights how earnings may be driven by energy even as newer consumer bets dominate headlines.
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