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Reliance Jio Gains At Bharti Airtel’s Expense

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Bharti Airtel Ltd.’s revenue share in India’s telecom market fell the most in the three months ended September. And Mukesh Ambani’s Reliance Jio Infocomm Ltd. gained at the expense of India’s biggest telecom operator.

Reliance Jio’s share stood at nearly 14 percent in the second quarter of the financial year 2017-18. In comparison, Bharti Airtel Ltd.’s revenue share declined 475 basis points to below 30 percent for the first time in at least 15 quarters. Vodafone India Ltd. and Idea Cellular Ltd. also saw a sharp sequential fall in their gross revenue after adjusting for interconnect usage charges and other deductions.

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Among the smaller players, Aircel’s revenue market share fell the most followed by Tata Teleservices Ltd. Anil Ambani-led Reliance Communications Ltd., which recently defaulted on its dollar debt, managed to increase its share by 16 basis points.

Government-owned BSNL and MTNL’s combined share also declined by 65 basis points to 5.3 percent.

Led by Reliance Jio, the adjusted gross revenue of the telecom sector rose 4 percent—the most in the last 10 quarters—to Rs 30,755 crore after four straight quarters of decline.

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