Jio-graphic: Price slashes by Reliance upstart bleeds Airtel bottomline

A woman checks her mobile phone as she walks past a mobile store of Reliance Industries Jio telecoms unit in Mumbai

A woman checks her mobile phone as she walks past a mobile store of Reliance Industries Jio telecoms unit in Mumbai

Bharti Airtel's net profit for Q1 slumped 75% with a net profit of Rs 367 crore for the three months ended June.

Bharti Airtel, for its India market, registered revenues of Rs 17,244 crore for the first quarter in 2017 compared to Rs 19,155 crore for the corresponding period a year ago, showing a dip of 10%.

Industry-adjusted gross revenue is now likely to rise in 2018, after it declined by 15.6% year-on-year to $6.1 billion in the quarter ending March 2017.

If we see country specific earnings, India is its biggest market, and this is where the company is bleeding the maximum - obviously for a "new operator".

The company appears to have controlled the quarter-on- quarter slide it had been experiencing since the entry of Reliance Jio in September 2016.

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Reliance Jio has been leading the 4G network speed charts, according to recent data shared by the Telecom Regulatory Authority of India (TRAI) through MySpeed app. The newcomer has recently raised the competitive intensity in the sector with the launch of its bundled "zero cost" Jio phone. Consequently, the consolidated EBIT dropped by 34.1% Y-o-Y to Rs 2,988 crore. Jio has experienced phenomenal growth since launching its all-4G service last autumn, signing up more than 100 million subscribers in the space of few months, and for much of that period Jio has been offering those customers almost unlimited access to mobile data. Meanwhile, the mobile data revenue for the quarter was reported at Rs 3,765 crore, at a drop of 16.8% year-on-year on an underlying basis.

Net interest costs of Rs 1,789 crore have risen from Rs 1,631 crore in the corresponding quarter previous year largely due to increased spectrum related interest costs.

Raghunath Mandava, MD and CEO, Africa, said, "Airtel Africa organic revenue growth for the quarter was 1.5 per cent year on year..." Forex and derivative loss was ₹39 crore compared to loss of ₹309 crore a year earlier.

The Mukesh Ambani-backed Reliance Jio is technically capable of delivering higher LTE speeds, but the volume of data users consume on an average led to network congestion. The total mobile customer base passed 280.6 million at the end of June, of which 62.56 million used data. However, data ARPU fell 22.7% to ₹156 from ₹202.

This is published unedited from the PTI feed.

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