Reliance Jio increases its revenue market share in Q3

Led by strong growth in its adjusted gross revenue (AGR) for the October-December quarter of 2020, Reliance Jio has improved its revenue market share to 39.3 percent from 38.3 percent in the preceding quarter whereas Bharti Airtel and Vodafone Idea witnessed their share decline marginally despite improving their AGR.

In the December quarter (Q3), Reliance Jio Infocomm Ltd was the only telecom services provider to report growth in market share, at the cost of Bharti Airtel Ltd and Vodafone Itd, according to analysts, who cited data by the Telecom Regulatory Authority of India.

Brokerage firm Axis Capital said that while the adjusted gross revenue of the telecom industry improved in the quarter ended December to 443.1 bln rupees, led by more users converting to 4G from 2G and upgrading to higher data packs, only Reliance Jio reported a quarter-on-quarter market share improvement, but Bharti Airtel and Vodafone Idea posted a decline.

Bharti Airtel's adjusted gross revenue growth of 4.4 percent on quarter came in lower than its quarterly filing at 6.8 percent sequentially for the second quarter in a row, which distorts its adjusted gross revenue market share, ICICI Securities Ltd said, adding that the disconnect was due to cash as against accrual accounting, and it should converge in the coming quarters. Hence, the revenue market share of the Sunil Mittal-led telecom company fell 33 basis points on quarter to 31.9 percent as of December-end, while that of Vodafone Idea was down at 21.1 percent from 21.3 percent in the previous quarter.

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