Third quarter revenue of telecommunication companies crossed $34 billion, TRAI report revealed

New Delhi: In the third quarter of the current financial year, the revenue of domestic telecom companies increased by eight percent year-on-year and crossed $ 34 billion (about Rs 3 lakh crore). A report by capital markets and investment group CLSA, quoting Telecom Authority of India (Trai) data, said that during the quarter, Bharti Airtel’s revenue grew by nine per cent year-on-year and Vodafone Idea’s by two per cent. Reliance Jio recorded the strongest growth in revenue at 11 percent. The combined share of these three companies in the total revenue of the country’s telecom sector was 95 percent.

Reliance Jio’s revenue share increased the most by 123 basis points (1.23 percent) to 42.5 percent compared to a year ago. Airtel’s revenue share increased (39 basis points) to 39.5 percent while Vodafone Idea’s share declined by 83 basis points to 13.5 percent.

The report says that the dominance of Reliance Jio and Airtel in the telecom sector will increase further in the coming times. The sector’s revenue is likely to reach Rs 3.7 lakh crore ($42 billion) by 2028. At present, the combined revenue share of Jio and Airtel is about 82 percent, which is expected to reach 85 percent by the year 2028.