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Reliance Jio effect: Rs4,600 crore hit for telecom firms in FY17

Reliance Jio effect: Rs4,600 crore hit for telecom firms in FY17

Tuesday, April 11, 2017, 9:47 AM

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