Reliance Jio effect: Rs 4,600 crore hit for telecom firms in FY17, Rs 4,900 crore hit in FY18

Reliance Jio effect: Rs 4,600 crore hit for telecom firms in FY17, Rs 4,900 crore hit in FY18

New Delhi: The annual revenue of Indian telecom firms declined for the first time since 2008-09 to Rs 1.88 trillion in 2016-17 (from Rs 1.93 trillion the previous year), and will decline further to Rs 1.84 trillion in 2017-18, brokerage CLSA said in a report released on  April 7.

The reason: the launch and aggressive pricing of Mukesh Ambani-promoted Reliance Jio Infocomm Ltd which has forced other telecom firms to cut prices.

The revenue of telecom firms is expected to recover to Rs 1.87 trillion in 2018-19, marginally higher than that seen in 2014-15, the brokerage added.