Day after Vodafone Idea and Bharti Airtel announced tariff hikes, Reliance Jio said that it will also follow suit in the next few weeks.
Day after Vodafone Idea and Bharti Airtel announced tariff hikes, Reliance Jio said that it will also follow suit in the next few weeks. The company may take measures including tariff hikes in such a manner that it will not adversely impact data consumption or growth, Mukesh Ambani-led Reliance Jio said in a statement. Adding, the telecom operator said that it will work with the government and comply with the regulatory regime. On Monday, both Vodafone Idea and Bharti Airtel announced a rise in rates of calls and data, amid ongoing financial troubles.
In a separate development, Reliance Jio added 69.8 lakh users while Bharti Airtel lost 23.8 lakh and Vodafone Idea lost 25.7 lakh users on a monthly basis, according to the September telecom data released by TRAI on Tuesday. Reliance Jio posted a net profit of Rs 990 crore in the September quarter, up 45.4 per cent on-year, as data consumption surged on the back of more subscribers onboarding the network. The company’s operating revenue rose 33.7 per cent year on year to Rs 12,354 crore.
Bharti Airtel and Vodafone Idea tariff hikes come as the Indian telecom industry posted a record quarterly loss. Vodafone Idea posted a loss of Rs 50,921 crore for the July-September quarter, owing to provision for the Supreme Court’s ruling on payment of AGR dues, even as ongoing brutal pricing war continued to hurt. This was the highest ever quarterly loss posted by any company in India. In the year-ago period, the telco recorded a loss of Rs 4,947 crore. Even Bharti Airtel recorded a loss of Rs 23,044 crore for the quarter ended 30 September 2019 due to Rs 28,450 crore provisions towards AGR.