Reliance Jio annual report: Jefferies finds 8 key takeaways

Reliance Jio’s FY25 annual report highlights the telecom major’s focus on expanding 5G services, broadband penetration, and scaling enterprise offerings. According to global brokerage Jefferies, Jio turned free cash flow (FCF) positive with over five-fold year-on-year jump in revenues from external clients for Jio Platforms and Reliance Jio Infocomm.

However, the report also cautioned that while return on invested capital (ROIC) improved, further tariff interventions and sharper monetization of services will be required to sustain margins.