Read More>> KOLKATA: Reliance Jio Infocomm is now India’s second-largest telco by revenue market share, dislodging Vodafone India and closing the gap with market leader Bharti AirtelNSE 2.11 % on this score, helped by strong performance in the rural mobile markets and aggressive pricing that has left rivals struggling.
Less than two years since starting 4G services, Mukesh Ambani-controlled Jio’s RMS widened 253 basis points (bps) on-quarter to 22.4% at the end of June, financial data put out by the Telecom Regulatory Authority of India (Trai) showed. Vodafone India’s RMS slumped 175 bps sequentially to 19.3%, while Kumar Mangalam Birla-led Idea Cellular’s share shrank 106 bps to 15.4%. Bharti Airtel’s RMS dipped 12 bps on-quarter to 31.7% as it staved off the impact of a cut in charges for receiving internati ..
Airtel’s RMS crept up from 30.7% in the second quarter of FY18, ICICI Securities said in an analysis of the Trai data. However, Jio’s RMS during this period almost doubled to 22.4% from 11.6%. “That Jio would surpass Vodafone India (independently) on RMS in the June quarter was expected, given its strong and sustained growth on this metric, but it now appears to be gradually getting within striking distance of Airtel,” Naveen Kulkarni, an analyst at PhillipCapital, told ET.