According to the latest financial data released by telecom regulator TRAI, Bharti Airtel and Vodafone Idea were pipped by Mukesh Ambani’s Reliance Jio in April-June as top revenue earner from telecom services within three years of commencing commercial operations at Rs 10,900 crore.In September 2016, Reliance Jio stormed into the highly-competitive telecom sector with its disruptive voice and data offerings, while Bharti Airtel had launched its services way back in 1995. Vodafone Idea came into existence last year in August after the merger of Vodafone India and Idea Cellular."RJio AGR (incl NLD) rose 9 percent year-on-year to Rs 10,900 crore, and finally became the No. 1 operator. The AGR growth is significantly higher than the reported revenue growth of 5.2 percent quarter-on-quarter due to reducing losses on interconnect usage charges which is reflected in terms of lower access and roaming charges," ICICI Securities said in its report.
Reliance Industries Limited Chairman and Managing Director Mukesh Ambani speaking at the company's AGM earlier this month had said that Jio has amassed 34 crore mobile subscribers now.