India's telecom operators delivered an inline performance in the September quarter of FY26, with rising average revenue per user (ARPU) continuing to act as the biggest driver of sectoral momentum, according to a review of Q2FY26 results by Centrum.
ICICI Securities has upgraded valuations for Indian telecom companies that are under its coverage, with renewed optimism stemming from the healthier business and financial structures in this key space.
According to the company's Q2 consolidated highlights, Jio's total subscriber base stood at 506.4 million as of September 2025, marking an addition of 27.6 million subscribers year-on-year (YoY). The company attributed the robust growth to strong momentum across mobility and home broadban