JioStar Q2 Revenue Rises 10% to $710 Million Despite Profit Dip
JioStar, the Indian media giant backed by Reliance Industries, reported revenue from operations of INR68.1 billion ($710 million) for the July–September quarter, marking a 10.1% year-on-year increase despite a weak advertising market. Profit after tax fell 13.2% to INR11.5 billion ($120 million) as operating expenses climbed.
Revenue Growth Outpaced by Rising Operating Costs
The top-line expansion was driven by subscriptions and digital advertising, though earnings came under heavy pressure. Operating costs rose 17% to INR54.34 billion from INR46.46 billion in the corresponding quarter last year, according to data. That cost acceleration narrowed the operating EBITDA margin to 22.1%, down from 28.1% a year earlier. Total EBITDA dropped 13.6% to INR15 billion ($157 million), impacted by a 36.6% drop in investment income.
For the first half of fiscal 2026–27, JioStar recorded revenue of INR207.43 billion, representing a 12% increase, while first-half profit after tax slipped nearly 5% to INR18.12 billion. Gross revenue for the September quarter reached INR79.4 billion ($829 million), up 9.8% year-on-year.
| JioStar Financial Metric | July–September Quarter | Year-on-Year Change |
|---|---|---|
| Revenue from Operations | INR68.1 billion ($710M) | +10.1% |
| Gross Revenue | INR79.4 billion ($829M) | +9.8% |
| Operating EBITDA | INR13.7 billion ($143M) | -10.5% |
| Profit After Tax | INR11.5 billion ($120M) | -13.2% |
JioHotstar Grows Monthly Active Users and International Subscribers
On the streaming side, JioHotstar averaged approximately 440 million monthly active users during the quarter, representing a 10% increase from the prior year, though down from 530 million in the June period when the Indian Premier League drove a seasonal surge. JioHotstar was relaunched under its brand in Singapore, the U.K., and Canada in September, with active subscribers in those three territories growing about 30% since the rollout.
Entertainment engagement benefited from high-profile programming. Former India cricket captain Sourav Ganguly hosted the first-ever “Bigg Boss Bangla,” which launched on JioHotstar during the quarter. The reality franchise rolled out across six languages and drew over 90 million viewers in its first three weeks. Additional titles such as “Resort,” Rajkumar Hirani’s “Pritam & Pedro,” and “Heart Beat” Season 3 further strengthened platform watch-time, which grew more than 15% for entertainment content.
JioStar's Q2 profit falls 13% to ₹1,147 crore.Revenue rose 10% to ₹6,806 crore. pic.twitter.com/RVdt8cjZwL
Sports Portfolios and Commercial Integrations
Sports programming remained a central pillar of the digital strategy. The England–India cricket series gave JioHotstar its largest audience yet for a bilateral series played abroad, according to data. Coverage also spanned Wimbledon, the U.S. Open, and the opening weeks of the 2026–27 Premier League season. JioStar expanded its commerce integrations, previously limited to cricket matches, across all three major sports properties.
To boost monetization and user acquisition, the platform introduced the “Pay Kisi Aur Se” (“Ask Others to Pay”) feature, which allows users to request subscription payments from friends or family and raised payment initiations by 10%. Connected television viewing also expanded, with users on television screens consuming three times as much content as mobile users.
