Reliance Jio pipped Bharti Airtel and Vodafone Idea and emerged as the top revenue earner from telecom services at Rs 10,900 crore in the quarter ending June 2019 according to a report (see below) by the financial and economic analysis division of the Telecom Regulatory Authority of India (TRAI). Reliance Jio’s market share at the end of the June quarter stood at 31.7% while that of Bharti Airtel and Vodafone Idea stood at 30% and 28.1% respectively.
Meanwhile, Bharti Airtel and Vodafone Idea recorded adjusted gross revenue (AGR), earned from the sale of telecom services, of Rs 10,701.5 crore and Rs 9,808.92 crore, respectively, during the same quarter, according to the telecom regulator’s report. With this, Reliance Jio – which entered the market in September 2016 – has taken over Bharti Airtel which has been operating in the Indian market since 1995 in terms of revenue in the last quarter.
Jio’s present subscriber base is 331.3 million subscribers, according to its April-June financial results announced last month when it reported a profit of Rs 891 crore, up 45.6% year on year and an operating revenue of ₹116.79 billion rupees, up 44% on year.
Rising problems for Vodafone Idea
Another takeaway from TRAI’s report is that Vodafone Idea’s market share dropped from 32.1% in the quarter ended March 2019 to 27.8% last quarter, and despite having more subscribers than Reliance Jio and Bharti Airtel, it lagged behind the two in terms of revenue. In fact, according to a report, an analysis of Vodafone Idea’s debt and repayment schedules shows that the company might fall short of funds in the next year.