The telecom sector reported a 2.33% quarter-on-quarter rise in Adjusted Gross Revenue (AGR) to ₹84,270 crore in the October–December 2025 quarter, as per data by the telecom regulator.
This suggests steady operational expansion and improved realisations, according to the latest performance indicators released by the Telecom Regulatory Authority of India (TRAI).
Meanwhile, Applicable Gross Revenue (ApGR) stood at ₹96,456 crore, up 2.28% sequentially, while Gross Revenue (GR) increased 2.65% to ₹1,02,475 crore during the quarter. On a year-on-year basis, AGR grew 8.13%, outpacing GR growth of 6.31%. Access services accounted for 84.54% of total AGR during the quarter.
In simple terms, Applicable Gross Revenue (ApGR) is the licence-relevant portion of a telecom operator’s total Gross Revenue (GR), arrived at after excluding non-telecom and specifically exempted income streams.
From ApGR, operators are allowed to deduct pass-through charges and other permitted items to compute Adjusted Gross Revenue (AGR), which forms the final base on which licence fees and spectrum usage charges are calculated.
What do analysts say?
Meanwhile, analysts point that rising AGR could act as an overhang for telecom operators because government levies are calculated as a percentage of AGR, directly affecting cash flows. Bharti Airtel continues to carry sizeable AGR liabilities of around Rs 40,000 crore, with repayments underway, starting this March.
In contrast, Vodafone Idea has seen relief for its Rs 87,695 crore dues after recent government intervention, including conversion and deferment of dues, which has eased its immediate repayment burden.
Monthly average revenue per user (ARPU) for wireless services rose 1.87% over the previous quarter to ₹194.57. Prepaid ARPU stood at ₹194.12, while postpaid ARPU was ₹199.05.
Average minutes of usage per subscriber increased marginally to 1,012 minutes per month. At the same time, average revenue realisation per GB of wireless data stood at ₹7.87, even as average wireless data usage rose to 25.70 GB per subscriber per month.
Total telecom subscriber base
The total telecom subscriber base increased 6.28% sequentially to 1,306.14 million at the end of December 2025, compared with 1,228.94 million in September.
Overall tele-density improved to 91.74%. Wireless (mobile plus FWA) subscribers rose by 76.45 million to 1,258.77 million, registering 6.47% growth over the previous quarter. The regulator noted that the sharp increase in December partly reflects a change in reporting methodology, as Bharti Airtel began including its M2M cellular subscriber base in its wireless subscriber numbers from December 2025.