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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →For the financial year ended March 2026, Reliance Industries reported strong FY26 results for its Digital Services business, while Vodafone Idea reported its own company-level FY26 results. Those figures do not make a like-for-like three-way ranking: Airtel’s matching telecom-segment figures are not included here, and the Jio and Vi figures cover different reporting entities. For service, there is no universal winner—coverage, reception and value depend on where and how you use your phone.
How do Jio, Airtel and Vi compare financially?
The available FY2025–26 figures show scale and reported profitability for two different reporting scopes. Reliance’s numbers are for its Digital Services business, not standalone Jio accounts; Vi’s are company-level results. Airtel’s official results index lists FY26 documents, but a matching telecom-segment figure is not available in the material cited here. The table is therefore a partial snapshot, not a ranked comparison.
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| Operator and reporting scope | FY2025–26 revenue | FY2025–26 EBITDA | EBITDA margin | What the figure represents |
|---|---|---|---|---|
| Jio-related: Reliance Digital Services business | ₹149,965 crore | ₹76,560 crore | 51.1% of revenue from operations | Reliance Industries FY26 Digital Services business overview; not standalone Jio accounts. |
| Vodafone Idea (Vi), company-level | ₹44,873 crore | ₹19,003 crore | Not stated in the cited FY26 results | Vodafone Idea FY26 Q4 results. |
| Airtel, matching telecom-segment scope | Not stated in the cited material | Not stated in the cited material | Not stated in the cited material | Bharti Airtel’s official results index lists FY2025–26 results and investor materials, but the corresponding figures are not included here. |
Revenue and EBITDA are not enough to judge financial resilience on their own. Debt, interest costs, cash flow and the amount of investment needed to expand or maintain the network also matter. No matched debt or liquidity figures are established here, so the table cannot answer which operator is financially strongest overall.
What do the subscriber and usage figures say?
The reported figures point to Jio’s substantial scale, while Vi’s results show its customer base and network footprint at FY26 year-end. They use different measures and dates, and Airtel’s comparable figures are not supplied here.
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| Measure | Jio-related figure | Vi figure | How to read it |
|---|---|---|---|
| Total customers or subscribers | More than 524 million Jio customers at March 2026, reported by Reliance. | 192.8 million subscribers at Q4 FY26, reported by Vodafone Idea. | Company-reported totals; definitions and reporting scopes may differ. |
| 5G or 4G/5G base | More than 268 million 5G users at March 2026; Reliance reported 77 million 5G net additions during FY26. | 128.9 million 4G/5G subscribers at Q4 FY26. | The labels are not identical: one is a 5G-user count, the other combines 4G and 5G subscribers. |
| Data and voice use | 42.3 GB monthly per-capita data use and 988 monthly voice minutes for the quarter ending March 2026, according to Reliance. | Not stated in the cited FY26 results. | Jio’s figures are company-reported averages for that quarter, not a forecast of an individual customer’s usage. |
| ARPU | Not stated here on a directly comparable basis. | ₹174 blended ARPU at Q4 FY26, reported by Vodafone Idea. | Do not treat this as a matched three-operator comparison: periods and definitions need to align, and Vi’s blended measure is not the same as customer ARPU excluding M2M. |
| Fixed broadband | More than 27 million fixed-broadband connections at March 2026, reported by Reliance. | Not stated in the cited FY26 results. | This is a different service from mobile coverage and should matter most if home broadband is part of your decision. |
Subscriber totals need a date and definition. A government announcement summarizing TRAI’s October–December 2025 report said Airtel began including M2M cellular subscriptions in its wireless mobile subscriber base from December 2025. Consequently, a raw Airtel total from before and after that change may not be directly comparable.
What does the evidence say about network service?
It does not establish a nationwide winner for everyday mobile service. Vi reported 86.3% 4G population coverage at FY26 end and said coverage and usage had grown over the year even as its total subscriber base declined. Population coverage describes people within a coverage footprint; it does not guarantee reception inside a particular building, on a specific road, or at busy times.
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For your own service, the relevant comparison is local: signal indoors and outdoors, dropped calls, data performance when the network is busy, and continuity on the routes you actually travel. A national subscriber count, 5G-user total or coverage percentage cannot settle those questions for your address.
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Check the places and times that matter to you
- Ask people who use each network in your home, workplace and regular travel areas about indoor reception and busy-hour performance.
- If possible, test with a prepaid SIM or eSIM before moving your main number. Check the operator’s current availability, device requirements and number-transfer steps directly.
- Test with the phone you intend to keep. Supported network bands, software, SIM configuration and local site conditions can affect the experience.
- Judge service during the times you rely on it, including evenings or commuting hours—not only when the network is quiet.
How can you decide which operator offers better value?
No current tariff comparison is established here, so a price or “best plan” ranking would be unreliable. Compare the actual plan terms available to you on the day you buy; an attractive headline data allowance is only useful if the validity, speed conditions and included services fit your use.
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Compare the terms side by side
- Total cost: price for the validity period, and the cost of maintaining service over the months you expect to use it.
- Data: daily or total allowance, what happens when it runs out, and any speed or fair-use conditions.
- Calls and travel: included calling, roaming terms for destinations you visit, and any applicable limits.
- Extras: bundled services you will actually use, rather than features that do not affect your decision.
- Postpaid needs: billing terms, family connections, data-sharing rules and any other conditions relevant to your account.
Use your own recent data use as a baseline. Jio’s reported 42.3 GB monthly per-capita average for the quarter ending March 2026 is useful context about Jio’s overall usage, but it is not an individual recommendation or a measure of what a particular plan should cost.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Which operator should you choose?
Make the choice in this order: first, identify which networks work reliably in your key locations; second, confirm that your phone and preferred SIM setup are supported; third, compare current plans against your data, calling, travel and household needs. If fixed broadband is part of the decision, compare that separately from mobile coverage.
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Jio’s FY26 figures demonstrate substantial scale and reported Digital Services profitability. Vi’s FY26 results report lower absolute revenue than Reliance Digital Services, alongside a smaller subscriber base and stated 4G population coverage. Because Airtel’s matching financial figure and a harmonized three-operator dataset are absent—and because the reporting scopes differ—these facts do not establish a complete financial order among Jio, Airtel and Vi.
Where to find updated official comparisons
TRAI listed its FY2025–26 annual performance-indicator report on 5 October 2026 and monthly subscriber data through August 2026, released on 28 September 2026. Its reports are the appropriate official starting point for regulator-side comparisons; the underlying annual tables are not analyzed in this article. For company financial details, consult Reliance Industries’ FY26 results and shareholder letter, Vodafone Idea’s FY26 Q4 results, and Bharti Airtel’s official results index. Check each document’s reporting entity, period and metric definitions before comparing figures.
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