Reliance Jio, owned by Mukesh Ambani, has outperformed its rival, Bharti Airtel, in terms of revenue market share (RMS) in the fourth quarter of the 2023 financial year.
What Happened? From January to March 2023, Reliance Jio’s RMS surged by 13 basis points (bps) to 41.7%, whereas Airtel’s RMS remained steady at 36.5%.
Vodafone Idea, the third major private telecom company in India, saw its RMS fall by 42 bps to 16.6%, according to data from the Telecom Regulatory Authority of India (TRAI).
The RMS is a way to measure a company’s leadership within the overall telecoms market, with a base point of 0.01%.
See also: Jio Likely To Hit 500M Subscribers By 2026, Stage Set For IPO: Analyst
According to an Economic Times report, brokerage firm Motilal Oswal highlighted that Jio made gains in its market share in almost every circle. Jio saw approximately 20 bp increases in market share revenue in metropolitan and A and B circles. On the other hand, Airtel’s share gains in metropolitan/A circles were lower at 10 bp and slid 20 bp in the B circles.
Airtel’s market share gains declined due to a price increase in its 2G packs. The company raised prepaid rates across 22 circles, resulting in increased 2G plan rates.
In terms of subscribers, Reliance Jio added 30.5 lakh subscribers in March, raising its total to over 43 crore. Bharti Airtel added 10.37 lakh subscribers in March, increasing its total to 37.09 crores. Meanwhile, Vodafone Idea lost 12.12 lakh mobile users in March, reducing its subscriber base to 23.67 crore.
Read next: What Is Reliance Jio’s Share Price And How To Buy
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