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For FY2025–26, Reliance reported strong revenue and EBITDA for its Digital Services business, while Vodafone Idea (Vi) reported lower company-level totals and a smaller subscriber base. Those figures do not support a complete three-way financial ranking: the reporting scopes differ, and a matching Airtel telecom-segment figure is not established here. Nor do company-wide numbers tell you which network will work best at your home, workplace, or regular travel routes.
How do Jio, Airtel, and Vi compare financially?
The available FY2025–26 figures show the reported scale of Jio Digital Services and Vodafone Idea, but they are not like-for-like accounts. Reliance’s figures are for its Digital Services business; Vi’s are company-level figures. Airtel’s official results index lists FY2025–26 financial materials, but a matching telecom-segment figure is not established here. Use the table as a snapshot of what each source reports, not as a complete league table.
| Operator and reporting scope | FY2025–26 revenue | FY2025–26 EBITDA | Margin |
|---|---|---|---|
| Reliance Digital Services, which includes Jio-related digital services | ₹149,965 crore, revenue from operations | ₹76,560 crore | 51.1% of revenue from operations |
| Vodafone Idea Limited, company-level | ₹44,873 crore | ₹19,003 crore | Not stated in the cited FY26 results |
| Airtel telecom segment | Not stated; a matching FY26 figure is not established in the official results index inspected | Not stated; a matching FY26 figure is not established in the official results index inspected | Not stated; a matching FY26 figure is not established in the official results index inspected |
Sources: Reliance Industries Limited, FY2025–26 Digital Services business overview; Vodafone Idea Limited, FY2025–26 results; Airtel official results index. Since the entities and scopes differ, comparing the two reported revenue totals as if they were equivalent would overstate what the figures show. A complete ranking also requires a matched Airtel figure and comparable reporting scopes. These figures alone do not compare debt, liquidity, or the financial strength of each operator’s underlying network business.
What do the subscriber and usage figures show?
The company-reported figures below offer context on reported scale and activity, but their definitions are not fully harmonized. A subscriber total is not automatically the same as an active-user count, and a population-coverage measure does not describe signal at a particular address.
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| Measure | Jio / Reliance report | Vi report | Airtel |
|---|---|---|---|
| Reported customer or subscriber base | More than 524 million Jio customers at March 2026 | 192.8 million total subscribers at Q4 FY2025–26; the company reported that its total base declined over the year | Not stated in the cited official index materials |
| 5G or 4G/5G users | More than 268 million 5G users at March 2026; 77 million net additions during FY2025–26 | 128.9 million 4G/5G subscribers at Q4 FY2025–26 | Not stated in the cited official index materials |
| Usage or ARPU | 42.3 GB monthly per-capita data use and 988 voice minutes for the quarter ending March 2026 | ₹174 blended ARPU at Q4 FY2025–26 | Not stated in the cited official index materials |
| Coverage or fixed broadband | More than 27 million fixed-broadband connections at March 2026 | 86.3% 4G population coverage at FY2025–26 end | Not stated in the cited official index materials |
Sources: Reliance Industries Limited, FY2025–26 Digital Services business overview and shareholder letter; Vodafone Idea Limited, FY2025–26 Q4 results. Jio’s monthly usage figures are reported for the quarter ending March 2026, while Vi’s ₹174 is blended ARPU for Q4; those are different measures and should not be treated as a direct value comparison. Vi’s 4G population-coverage percentage is not an address-level service guarantee.
There is also a subscriber-count definition change to bear in mind. A government announcement summarizing TRAI’s October–December 2025 report says Airtel began including M2M cellular subscriptions in its wireless mobile subscriber base from December 2025. Raw reported subscriber totals therefore need to be read with their date and definition, rather than assumed to be directly comparable across operators.
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What can these numbers say about service quality?
They show scale, investment context, usage, and reported coverage; they do not identify a universal network winner. A large 5G base or high population-coverage figure cannot establish whether you will get reliable indoor reception, usable speeds at busy hours, or uninterrupted service on your commute. Local geography, building materials, network load, your handset’s supported bands, and the routes you use all matter.
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Vi reported expanding coverage and usage during FY2025–26 even as its total subscriber base declined. That indicates movement in those reported measures, not proof that its experience is better or worse than another operator’s in your area.
Which operator offers the best value for your data use?
There is no current, verified tariff comparison in the figures here, so a price winner cannot be named. Compare the plans available to your number and location on the operators’ current official channels; prices, validity, benefits, and eligibility can change. Before choosing, check the total cost over the period you expect to use the plan and the conditions attached to its headline allowance.
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- Light or occasional data use: prioritize the lowest suitable total cost, validity, and dependable calling where you live and work.
- Frequent streaming, hotspot use, or large downloads: inspect the data allowance, any daily cap, post-allowance speed, and hotspot terms rather than relying on an unlimited label.
- Regular travel: check coverage on your actual routes and destinations, plus roaming terms if you travel internationally.
- Family or business use: compare the full monthly bill, number-sharing or group terms, support needs, and any postpaid conditions—not just the per-line headline price.
- Home internet as well as mobile: compare fixed-broadband availability and terms separately. Reliance reported more than 27 million Jio fixed-broadband connections at March 2026, but that total does not establish availability or quality at your home.
How should you choose between Jio, Airtel, and Vi?
- Start with your locations. List your home, workplace, commute, and frequent destinations. An operator that performs well at the places you use most may matter more than nationwide scale.
- Confirm handset compatibility. Check that your phone supports the relevant network technologies and bands; a plan cannot compensate for an incompatible device.
- Test service if you can. Use a short commitment or a second SIM/eSIM where available, then check indoor calls, data reliability, and busy-hour performance at your usual locations.
- Compare current plan terms. Verify price, validity, data limits and post-limit speed, calling, roaming, and any bundled benefits directly with the operator before paying.
- Reassess when your needs change. A move, a new handset, a change in travel, or a different data pattern can change which operator is the better fit.
What is missing from a full three-way comparison?
A complete financial ranking would need matching Airtel FY2025–26 telecom-segment figures and consistent reporting scopes across all three operators. A stronger operating comparison would also need common-period ARPU and subscriber measures with aligned definitions. TRAI listed its FY2025–26 annual performance-indicator report on 5 October 2026 and monthly subscriber data through August 2026, released 28 September 2026; those are official routes for regulator-side comparisons, but the relevant tables are not reproduced here. Current plan prices and address-level service results also need checking for the reader’s specific circumstances.
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