Reliance Jio adds 35.98 lakh wireless subscribers in Feb 2024, Bharti Airtel’s count increases by 15.3 lakh

The country’s largest telecom company Reliance Jio added over 35.98 lakh wireless subscribers during the month of February 2024, continuing its dominance in the market according to data released by the Telecom Regulatory Authority of India (TRAI).

In comparison, Bharti Airtel added over 15.3 lakh subscribers during the month, the data show.

Meanwhile, Vodafone Idea lost over 10.23 lakh subscribers during February 2024.

TRAI also indicated that total wireless subscribers increased from 1,16.07 crore at the end of January 2024, to 1,16.46 crore at the end of February 2024, thereby registering a monthly growth rate of 0.34%. Monthly growth rate of urban and rural wireless subscription stood at 0.34% and 0.34% respectively, it said.

The top five service providers constituted 98.35% market share of the total broadband subscribers at the end of February, TRAI said. The broadband subscriber count for Reliance Jio stood at 47.85 crore, Bharti Airtel at 26.96 crore and Vodafone Idea at 12.65 crore.

Shares of Bharti Airtel closed over 1.2% higher on Monday while Vodafone Idea shares closed 1.13% lower. While Bharti Airtel stock posted over 56% gains in the last one year, Vodafone Idea registered over 114% returns in the same period.

During the third quarter, all three telecom majors witnessed an increase in revenues. Reliance Jio witnessed a 10.6% year-over-year rise in its total income to ₹25,513 crore during the quarter-ended December 2023. At the same time, net profit increased 12.28% to 5,208 crore.

Meanwhile, Bharti Airtel saw a 5.9% rise in its quarterly revenue at ₹37,900 crore. Consolidated net income rose 53.8% to ₹2,442 crore.

On the other hand, Vodafone Idea registered a 0.5% rise in its third quarter revenue at ₹10,673 crore. It reported a net loss of ₹6,985.90 crore during the period as compared to ₹7,990 crore in the same period of previous fiscal.