Reliance Jio Set To Surpass Airtel’s India Mobile Revenue For First Time, Says Report

Mukesh Ambani’s Reliance Jio, which emerged as the strongest telecom competitor soon after its launch, is expected to surpass Bharti Airtel’s India revenue for the first time in the quarter ended December 2018, The Economic Times reported, citing analysts.

As per the report, Reliance Jio’s December quarter revenue is expected to grow about 12 percent sequentially to Rs 10,327 crore, which for the first time will be higher than Airtel’s mobile revenue, expected to be in the range of Rs 997 to Rs 10,148 crore.

Analysts expect the company will be able to beat Airtel’s revenue on higher subscription, the report said.

The report, citing brokerages said that the Sunil Mittal-led firm may post a net loss in the range of Rs 649 crore to Rs 1,141 crore, for the first time in 16 years.

“The newly formed Vodafone Idea Limited and Bharti Airtel may post significant losses on higher costs, despite a slower decline in revenue, helped by an expected turnaround in average revenue per user (ARPU) as their minimum recharge plans start to take effect,” the report said, citing analysts.

The newly merged Vodafone Idea Limited is expected to report revenue in the range of Rs 11,414 to Rs 11,703 crore in the December quarter, the report added. – CNBCTV18