Jio gains largest subscriber base on account of Voda Idea loss: Ind-Ra

NEW DELHI: Reliance Jio grew to become the nation”s largest telecom participant when it comes to subscribers at the price of loss in Vodafone Idea”s buyer base, India Ratings and Research mentioned in report on Monday.

Reliance Jio has turn into the biggest telecom participant with 36.9 crore mobile subscribers in November 2019, in accordance with the info revealed by telecom regulator Trai this month.

Vodafone Idea reported a complete mobile subscriber base of 33.62 crore and Bharti Airtel at 32.73 crore prospects for November 2019.

“The increase in RJio”s subscriber base is largely at the cost of reduction in the subscriber base of Vodafone Idea Limited, whose subscriber market share has declined consistently in last two years,” Ind-Ra report mentioned.

The ranking businesses mentioned the income market share of RJio additionally grew to 34.9 per cent within the second quarter of present fiscal, which is highest within the trade in comparison with different gamers.

“The average revenue per user (ARPU) reported by telecom companies (telcos) has started showing signs of recovery in the last two to three quarters. Moreover, the recent tariff hikes by telcos in the range of 25 to 35 per cent is likely to support the increase in ARPU over the next few quarters,” Ind-Ra mentioned.

The company on Friday downgraded the ranking of Rs 3,500 crore non-convertible debentures of Vodafone Idea on account of liabilities associated to adjusted gross income dues.

The NCDs have been issued by erstwhile Vodafone Mobile Services.

The credit standing agency downgraded the ranking by one stage to IND BBB from IND A+ and positioned it in “rating watch negative” indicating probability of additional reducing of its potential to pay for the debt word.

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