Jiostar reports Rs 7,232 crore revenue in Q2

JioHotstar averaged 400 million monthly active users in Q2

by e4m Staff
Published: Oct 17, 2025 8:43 PM | 3 min read

Reliance Industries Ltd’s JioStar reported a gross revenue of Rs 7,232 crore in the second quarter (Q2) of FY26, compared to Rs 11,222 crore in the previous quarter (Q1).

For the first half (H1) of FY26, gross revenue stood at Rs18,454 crore, against Rs 11,032 crore in FY25.

JioStar has defined FY25 as the period between November 14, 2024, the day the business was formed, and March 31, 2025.

Revenue from operations for Q2 FY26 was ₹6,179 crore, compared with Rs 9,601 crore in Q1 FY26, taking the H1 total to Rs 15,780 crore — a strong rise from Rs 9,497 crore in FY25.

EBITDA for the quarter rose sharply to Rs 1,738 crore from Rs 1,017 crore in Q1 FY26, taking the first-half figure to Rs 2,755 crore, compared with Rs 774 crore in FY25. The company reported an industry-leading EBITDA margin of 28.1% for Q2, up from 10.6% in Q1 and 17.5% for H1 FY26, significantly higher than 8.1% in FY25.

Depreciation for the quarter was Rs 323 crore, slightly higher than Rs 316 crore in Q1, bringing the total for H1 to Rs 639 crore compared with Rs 330 crore in FY25. Finance costs were Rs 89 crore in Q2 and Rs 118 crore in Q1, amounting to Rs 207 crore for H1 FY26, versus R201 crore in FY25.

Tax expenses stood at Rs 4 crore for Q2, Rs 2 crore for Q1, and Rs 6 crore for the first half of FY26, compared with Rs 14 crore in FY25. Profit after tax surged to Rs 1,322 crore in Q2 from Rs 581 crore in Q1, taking H1 profits to Rs 1,903 crore — a substantial rise from Rs 229 crore in FY25.

Reliance said the JioStar business delivered record EBITDA for the quarter with industry-leading margins of 28.1%. JioHotstar averaged 400 million monthly active users during the quarter and maintained a leading TV entertainment viewership share of 34.5%.

The company also highlighted that the India–England Test Series became the most-watched Test series ever on a digital platform, drawing 170 million viewers.

JioHotstar, meanwhile, averaged 400 million monthly active users in Q2, down 15% from Q1, which coincided with the IPL.

The company attributed the momentum to the strong performance of both Sports and Entertainment properties, along with personalization, seamless content discovery, and targeted marketing strategies, which boosted user retention and engagement.

“Special shows like Special Ops 2, Sarzameen, and Heart Beat 2 not only set new platform benchmarks but also topped external ranking charts. Our extensive international content library performed exceptionally well, driven by increased adoption across dubbed local languages, widening audience reach and engagement,” the company said in a statement.

Sports also delivered strong growth for the platform. Wimbledon 2025 viewership rose 77%, while the newly acquired US Open 2025 set new watch-time benchmarks, including a record 388 million minutes on Linear TV. Other key properties—Premier League, PKL Season 12, and ICC Women’s World Cup—also kicked off successfully, reinforcing JioHotstar’s leadership in sports.

Entertainment highlights included Bigg Boss (Hindi, Malayalam, Telugu), which saw 55% YoY growth in digital watch-time, reaffirming its popularity. Kyunki Saas Bhi Kabhi Bahu Thi marked the biggest Hindi GEC fiction launch in five years across TV and Digital. Network TV shows maintained strong performance through high viewer engagement and tentpole titles, while the third installment of the Jolly LLB franchise was well received by both viewers and critics, delivering solid box office returns.