Bharti Airtel and Reliance Jio delivered strong financial and operational performances in the second quarter of FY2026-27. Airtel reported consolidated revenue of Rs 60,878 crore, while Jio Platforms recorded quarterly revenue of Rs 47,485 crore. Both companies also reported higher profitability, rising average revenue per user (ARPU) and continued growth in their broadband and mobile data businesses.
However, the two operators followed different growth patterns. Airtel reported a higher mobile ARPU of Rs 271, compared with Jio’s Rs 218.8. Jio, meanwhile, crossed 300 million 5G subscribers and reported a total customer base of 542.4 million.
Here is a detailed comparison of Airtel and Jio’s Q2 FY27 results, including revenue, profit, ARPU, subscriber growth, data consumption, broadband and network investments.
Airtel vs Jio Q2 FY27: Key Financial Results
The two companies reported strong year-on-year growth in revenue and EBITDA during the September 2026 quarter.
| Financial Metric | Bharti Airtel | Jio Platforms |
|---|---|---|
| Reported quarterly revenue | Rs 60,878 crore | Rs 47,485 crore |
| Revenue growth YoY | 16.7% | 11.3% |
| EBITDA | Rs 35,240 crore | Rs 21,879 crore |
| EBITDA growth YoY | 17.8% | 16.6% |
| EBITDA margin | 57.9% | 54.1% |
| Reporting scope | Consolidated Airtel group | Consolidated Jio Platforms |
Airtel reported higher consolidated revenue and EBITDA in absolute terms. Its EBITDA margin was also higher than Jio Platforms’ reported margin.
However, these headline financial figures should not be interpreted as a direct comparison of their Indian mobile businesses.
Airtel’s consolidated results include its operations across India and Africa, along with other businesses. Jio Platforms is a separate reporting entity within Reliance Industries and includes connectivity and digital services.
The companies also report different revenue measures. Jio Platforms reported revenue of Rs 47,485 crore, while its revenue from operations was Rs 40,475 crore.
Therefore, the figures provide an overview of the two groups’ financial performance, but they are not a like-for-like comparison of India mobile revenue.
Airtel vs Jio ARPU: Airtel Maintains the Lead
ARPU is one of the most important indicators for comparing telecom operators because it measures the average monthly revenue generated per user.
Airtel reported mobile ARPU of Rs 271 in Q2 FY27, while Jio reported Rs 218.8.
| ARPU Metric | Airtel | Jio |
|---|---|---|
| Q2 FY27 | Rs 271 | Rs 218.8 |
| Q1 FY27 | Rs 264 | Rs 215.6 |
| Q2 FY26 | Rs 256 | Rs 211.4 |
| YoY growth | 5.9% | 3.5% |
| QoQ growth | 2.7% | 1.5% |
Airtel’s ARPU was Rs 52.2 higher than Jio’s in the September quarter.
This indicates that Airtel generated higher average revenue per mobile customer during the period.
Airtel has focused on premium prepaid and postpaid customers, while Jio’s strategy combines a large mobile subscriber base with 5G, home broadband and digital services.
The difference in ARPU does not necessarily mean that Airtel is more profitable per customer in every respect. Network costs, customer acquisition expenses, spectrum payments, service mix and other factors also influence profitability.
Subscriber Base: Airtel Has a Larger Global Customer Base, Jio Leads in India
Airtel reported a total customer base of approximately 693 million across 15 countries.
Jio Platforms reported a total customer base of 542.4 million, with 9.1 million net additions during the quarter.
| Subscriber Metric | Airtel | Jio |
|---|---|---|
| Total reported customer base | 693 million | 542.4 million |
| Quarterly net additions | 12 million | 9.1 million |
| Geographic coverage | 15 countries | India |
| Jio 5G customer base | Not directly comparable in this table | 300 million |
The subscriber figures need an important qualification.
Airtel’s 693 million figure includes its customer base across 15 countries, whereas Jio’s 542.4 million figure represents its customer base in India. These numbers should not be used to claim that Airtel has more mobile subscribers than Jio within India.
For an India-only comparison, the operators’ domestic subscriber figures from TRAI’s monthly performance indicators provide a more suitable basis.
Jio’s 300 million 5G customer milestone is another important development. It highlights the scale at which the company has been migrating its customers to its 5G network.
5G and Mobile Data Consumption: Jio Reports 300 Million 5G Users
Jio reported that its 5G subscriber base reached 300 million during Q2 FY27.
The company also reported monthly data consumption of 44.2GB per customer, compared with 38.7GB in Q2 FY26.
Airtel reported average mobile data usage of 36.5GB per customer per month, up from 28.3GB in the year-ago quarter.
| Data Metric | Airtel | Jio |
|---|---|---|
| Monthly data consumption per customer | 36.5GB | 44.2GB |
| Previous-year comparison | 28.3GB | 38.7GB |
| Reported 5G subscriber base | Not stated in the cited Q2 highlights | 300 million |
Jio’s reported monthly data consumption per customer was higher than Airtel’s.
However, the companies’ reporting definitions and measurement periods should be checked before treating the figures as perfectly comparable. Jio’s investor presentation specifically identifies its figure as monthly data consumption per customer for the exit quarter.
The growth in data consumption across both operators reflects increasing demand for video streaming, cloud services, online gaming and other data-intensive applications.
Postpaid Growth: Airtel Adds 1.2 Million Customers
Airtel reported a record quarterly postpaid net addition of 1.2 million customers during Q2 FY27. Its total postpaid base reached approximately 31.2 million.
The company has been strengthening its postpaid proposition with family plans and bundled benefits, including expanded Apple services for selected plans.
Jio’s Q2 presentation highlights its overall subscriber and 5G growth, but the headline figures do not provide a directly comparable postpaid net-addition number.
Therefore, Airtel’s record postpaid additions are an important company-specific achievement, rather than evidence that it outperformed Jio in postpaid growth.
Broadband: Jio Crosses 30 Million Connected Homes
Home broadband is another important growth area for both operators.
Jio reported a total broadband home base of 30 million in Q2 FY27. Its AirFiber customer base reached approximately 15.1 million, making fixed wireless access a major part of its home connectivity strategy.
Airtel reported 25.3% year-on-year revenue growth in its Homes business, taking quarterly revenue to Rs 2,336 crore. It also reported 3.4 million net Homes customer additions over the past year.
| Broadband Metric | Airtel | Jio |
|---|---|---|
| Homes business revenue | Rs 2,336 crore | Not reported on the same basis |
| Homes revenue growth | 25.3% | Not directly comparable |
| Annual Homes net additions | 3.4 million | Not directly comparable |
| Total broadband homes | Not stated in the cited Q2 highlights | 30 million |
| AirFiber customers | Not stated in the cited Q2 highlights | 15.1 million |
Jio’s 30 million figure includes its broader fixed broadband base, including fibre and AirFiber. Airtel’s reported Homes revenue and annual customer additions are different metrics.
The figures show that both companies are investing in home connectivity, but a direct market-share comparison requires consistent subscriber definitions and TRAI data.
Network Investment: Airtel Reports Rs 12,467 Crore Capex
Both operators continued to invest in network capacity and digital infrastructure.
Airtel reported consolidated capital expenditure of Rs 12,467 crore in Q2 FY27, including Rs 9,908 crore for India. It also invested Rs 2,826 crore in a strategic land parcel for data centre expansion.
The company deployed 497 new towers and 11,684 mobile broadband base stations during the quarter.
Jio’s investor presentation highlighted its 5G network scale, broadband expansion and technology investments. The company reported 300 million 5G customers and 30 million broadband homes.
The two companies are following different investment priorities across mobile networks, fibre, fixed wireless access and digital services.
Airtel is expanding its mobile network, fibre infrastructure, data centres and enterprise services. Jio is using its 5G standalone network, AirFiber, digital ecosystem and broadband scale to increase customer engagement.
Airtel vs Jio: Which Operator Performed Better in Q2 FY27?
The answer depends on the metric being considered.
Airtel performed strongly in:
- Mobile ARPU, at Rs 271.
- Consolidated revenue growth, at 16.7%.
- Consolidated EBITDA margin, at 57.9%.
- Record quarterly postpaid additions of 1.2 million.
- Homes revenue growth of 25.3%.
Jio performed strongly in:
- Reaching 300 million 5G subscribers.
- Building a 30-million broadband home base.
- Monthly data consumption of 44.2GB per customer.
- Adding 9.1 million subscribers during the quarter.
- Growing Jio Platforms’ EBITDA by 16.6%.
Airtel’s higher ARPU reflects its premium customer strategy, while Jio’s larger 5G and broadband milestones highlight its scale in India’s digital connectivity market.
The comparison also shows why looking only at revenue or subscriber numbers can be misleading. Both operators have different business structures, customer mixes and reporting scopes.
What the Q2 Results Mean for India’s Telecom Market
Airtel and Jio’s Q2 FY27 results highlight three broader developments in the Indian telecom industry.
First, operators are focusing on improving customer value rather than relying only on subscriber additions. ARPU growth and premium postpaid services are becoming important parts of their strategies.
Second, 5G and data consumption continue to expand. Jio’s 300 million 5G customers and the rising data usage reported by both operators indicate that mobile networks are handling increasingly data-intensive activities.
Third, broadband and digital infrastructure are becoming important growth engines. Fibre, AirFiber, enterprise services, cloud infrastructure and data centres are expanding the opportunity beyond traditional mobile connectivity.
For consumers, the competition could lead to more bundled benefits, broadband options and digital services. However, the quarterly results do not by themselves confirm any immediate change in prepaid tariffs.
Airtel vs Jio Q2 FY27: Final Takeaway
Bharti Airtel and Reliance Jio both delivered strong Q2 FY27 results, but their strengths were different.
Airtel maintained a higher reported mobile ARPU and recorded its strongest quarterly postpaid additions. Jio reached 300 million 5G subscribers and expanded its broadband home base to 30 million.
Airtel’s consolidated financial performance benefited from its India and Africa operations, while Jio Platforms continued to grow through connectivity and digital services in India.
The next phase of competition will depend on how effectively both operators convert their network investments, rising data consumption and digital services into sustainable revenue and profitability.
