New delhi sources stated that mukesh Ambani-led Reliance Jio 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. Meanwhile 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.
Reportedly Vodafone Idea came into existence in August last year after merger of Vodafone india and Idea Cellular. Furthermore 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).
ICICI Securities said in its report "RJio AGR (incl NLD) rose 9% 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% quarter-on-quarter due to reducing losses on interconnect usage charges which is reflected in terms of lower access and roaming charges". Moreover industry watchers noted Jio was number one in AGR in 14 circles, Airtel in three circles and Vodafone Idea in 5 circles. Perhaps state run telecom firms BSNL clocked AGR of Rs 4,295.96 crore and MTNL Rs 407.65 crore during the first quarter of the current fiscal.
