Sunil Mittal's Airtel gives tough competition to Mukesh Ambani's Reliance Jio, now gains...

Bharti Airtel chairman Sunil Mittal is one of the richest businessmen in India, with a net worth of USD 12.1 billion, as per Forbes. His telecom company, Airtel, has million of subscribers and gives tough competition to Mukesh Ambani's Reliance Jio, which leads the telecom sector in the country.

The latest telco financial data collated by the telecom regulator TRAI showed that Bharti Airtel continues to close the gap in revenue market share (RMS) with market leader Reliance Jio. This is due to its strong execution and revenue gains in both urban and rural markets. Jio has the leading share, but only Airtel gained market share in the second quarter.

In the second quarter of FY24, Airtel and Jio’s RMS levels were at 37.3% and 42.1% respectively. As a result, the RMS gap between Jio and Airtel has shrunk to just over 300 bps in Q2 FY25 from 480 bps a year ago. The top three operators accounted for 95% of sector revenue, with Jio leading at 41.6% of sector revenue market share.

As per the latest TRAI data, Airtel has gained 180 basis points (bps) on-year in the fiscal second quarter, boosting its RMS to 39.1% compared to Jio’s 18 bps on-year rise to 42.2%, ET reported. Airtel currently has a market cap of Rs 9.67 lakh crore, as of December 5.

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