Billionaire Mukesh Ambani’s Reliance Industries reported strong financial and operational results from its media and entertainment unit JioStar for the quarter ended June 30, powered by unprecedented digital and television viewership during the Indian Premier League (IPL) cricket tournament.
India’s financial year runs from April to March, making this the company’s first fiscal quarter for FY2025–26.
JioStar posted revenues of INR11,222 crore ($1.3 billion), up from INR11,032 crore ($1.28 billion) in the previous period. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose to INR1,017 crore ($118.1 million), up from INR774 crore ($89.9 million), with margins improving to 10.6% from 8.1%.
JioHotstar, the group’s flagship streamer, averaged over 460 million monthly active users during the quarter and surpassed 1.04 billion Android downloads. The 2025 IPL drove much of this momentum, with JioHotstar alone reaching 652 million viewers – a 28% year-on-year increase. Peak concurrency during the IPL final hit 55.2 million, making it the most-watched T20 match ever on digital. Across both platforms, IPL 2025 reached a total of 1.19 billion viewers.
Linear TV viewership also surged. The JioStar network reached over 800 million people during the quarter and captured a 35.5% share of entertainment viewership. Star Plus remained the leading Hindi-language general entertainment channel with six of the top ten shows, while Star Utsav became the top-ranked free to air channel on DD Free Dish. Regional flagships Star Pravah, Star Jalsha, Star Maa and Asianet continued to lead in their respective markets.
On the entertainment front, JioHotstar posted its highest-ever monthly watch-time in June. “Criminal Justice” opened as the biggest streaming original of 2025 (according to Ormax Media), while “Kesari 2” became the most-watched Indian film of the year on the platform. International content performed strongly as well, with “Mufasa: The Lion King” becoming JioHotstar’s most-viewed international title to date.
The company also secured exclusive digital rights to India’s ongoing five-Test cricket series against England, adding to a sports portfolio that already included the ICC World Test Championship Final.
Profit after tax more than doubled to $67.4 million from $26.6 million. Operating revenue reached $1.11 billion, while depreciation and finance costs stood at $36.7 million and $13.7 million, respectively.
“Reliance’s media business has emerged as a one-stop platform for entertainment, sports and news content from all over the world. We will continue to enhance our suite of offerings across genres to cater to the discerning Indian audience,” Ambani said.
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