Reliance Jio Becomes 2nd Largest Telecom Operator in India By Revenue!
Jio has now overtaken Vodafone, and is now placed before Airtel
The newest telecom company in the country, Reliance Jio is also the second largest operator in terms of revenue. Just behind Bharti Airtel, the company recently pipped Idea Cellular to take the third spot. Now the company has overtaken Vodafone India as well and has become the second largest telecom operator in the country by revenue.
The Mukesh Ambani-led Reliance Jio started operating commercially in September 2016, and just within one-and-a-half years, the company has completely changed the face of the Indian telecom industry.
Second Largest Telecom Operator in India
After overtaking Idea, Reliance Jio has now beaten Vodafone India to take the second spot. Reliance Jio is now the second largest telecom operator in India in terms of revenue. The company has generated Rs 6,217 crore in the last quarter which ended in March 2018, up by 15 percent compared to the last quarter.
On the third spot, Vodafone India has generated an Adjusted Gross Revenue (AGR) of Rs 4,937 crore in the market, while its future partner Idea Cellular generated Rs 4,033 crore.
Airtel The Next Target?
After Idea and Vodafone, Reliance Jio is now targeting India’s largest telecom company Airtel. Compared to Jio, Bharti Airtel is standing at a revenue of Rs 7,087 crore which is down by 10 percent compared to the last quarter.
Standing at Rs 6,217 crore revenue as the second largest telecom operator in India, the company will soon catch up with number one Airtel.
Telecom Industry Under Stress – Losses Widen By 7 Lakh Crore
Since Reliance Jio entered the market, it has been disrupting the telecom space with its aggressive plans at predatory prices. Several companies has already exited the market, and the other incumbents are struggling badly to stay in the competition.
Just within 19 months of its commercial launch of its services, the company has become the second largest telecom operator in India.
Unlimited free calls bundled with low-cost data and free access to premium entertainment apps, the company triggered a price war where no company stands a competition. The telecom sector presently stands at a debt of more than Rs 7 lakh crore.
Reliance Jio Won’t Stop
After becoming the second largest telecom operator in India, the company now aims to reach out to the 99 percent population of the country. With over 200 million subscribers, the company is growing stronger day by day. From the feature phone segment with JioPhone to prepaid, Jio stands firm in all the categories.
The company also recently entered the postpaid segment as well with its aggressive Rs 199 Jio Postpaid plan, which again has so alternate competitive plan available in the market.
Reliance Jio continues to grow with a sharp increase in revenue by 14.99 percent. On the other hand, the combined overall industry saw a 12.6 percent fall YoY and a 7.4 percent decline QoQ, for the last quarter.
All the data used in the article are from the Telecom Regulatory Authority of India (TRAI).