Reliance Jio has according to media report has pipped Bharti Airtel and Vodafone Idea in April-June as top revenue earner from telecom services at Rs 10,900 crore within three years of commencing commercial operations, according to the latest financial data released by telecom regulator Trai.
This assumes significance as Reliance Jio stormed into the highly-competitive telecom sector in September 2016 with its disruptive voice and data offerings, while Bharti Airtel had launched its services way back in 1995.
Vodafone Idea came into existence in August last year after merger of Vodafone India and Idea Cellular.
The incumbents 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 quarter, showed the data released by the Telecom Regulatory Authority of India (Trai).
“RJio AGR (incl NLD) rose 9 per cent year-on-year to Rs 10,900 crore, and finally became the No. 1 operator.
“The AGR growth is significantly higher than the reported revenue growth of 5.2 per cent quarter-on-quarter due to reducing losses on interconnect usage charges which is reflected in terms of lower access and roaming charges,” ICICI Securities said in its report.