Jio competitors see washout in Q3, losses likely in Q4 too

The balance-sheet of major telecom operators in India — Bharti Airtel, Idea Cellular and Reliance Communications — came under major pressure in the third quarter (October-December) of the current fiscal and the trend is likely to continue in the fourth quarter, say the experts.

Reliance Communications is owned by industrialist Anil Ambani and Reliance Jio’s owner is his elder brother Mukesh Ambani.

Mahesh Uppal, director, Com First, a telecom consultancy firm, also said there is no doubt that the revenue drop in the third quarter was a direct consequence of Reliance Jio’s aggressive free data offers.

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