Reliance Jio strengthens market leadership in Q3FY26 with strong revenue growth: Report
New Delhi, February 26
Reliance Jio strengthened its leadership in India's telecom sector in the third quarter of FY26, posting robust revenue growth and expanding market share amid steady industry momentum, according to an ICICI Securities report.
Jio's Adjusted Gross Revenue (AGR), including National Long Distance (NLD), rose 3.9 per cent quarter-on-quarter and 11.2 per cent year-on-year to Rs 321 billion in Q3FY26.
Its AGR market share increased to 43 per cent, up 41 basis points sequentially and 114 basis points year-on-year, ICICI Securities report said.
Bharti Airtel reported AGR of Rs 299 billion with a 39.9 per cent market share, while Vodafone Idea posted Rs 99 billion and a 13.3 per cent share.
"VIL's AGR market share declined to 13.3%, down 28bp QoQ, primarily due to a decline in all the metro circles," the report read.
Jio's incremental year-on-year AGR of Rs 32.4 billion exceeded Bharti's Rs 24.8 billion, underscoring its stronger revenue momentum.
The combined AGR of the top three private operators grew 2.9 per cent quarter-on-quarter and 8.9 per cent year-on-year to Rs 720 billion in Q3FY26, aided by subscriber growth and premiumisation.
On an annualised basis, industry AGR reached nearly Rs 3 trillion.
Jio's metro performance stood out, with AGR rising 18 per cent sequentially. Delhi and Kolkata saw increases of 22.9 per cent and 24 per cent, respectively, while Mumbai grew 6.7 per cent,
The company gained market share in 16 telecom circles during the quarter. "RJio has gained AGR market share in 16 circles QoQ, with declines noted only in Tamil Nadu (16bp QoQ), Kerala (31bp), Haryana (182bp), Madhya Pradesh (31bp), Bihar (35bp) and Odisha (26bp)."
With sustained growth across metros and circles, Jio continues to widen its lead in India's competitive telecom market.
According to a separate report by CLSA, Reliance Jio strengthened its dominance in India's telecom market in Q3FY26, gaining 47 basis points sequentially to command a 42.5 per cent revenue market share. The telecom company posted the highest growth among peers, with revenue rising 4 per cent quarter-on-quarter and 11 per cent year-on-year.
— ANI
Reader Comments
While the numbers are impressive, I'm a bit concerned about the lack of competition. Airtel is holding on, but Vi is struggling badly. We need at least 3 strong players for healthy competition and better plans for consumers.
The metro growth numbers are crazy! 24% in Kolkata? Shows how much data we are consuming now. My entire family is on a Jio plan and the seamless connectivity is a big plus. #DigitalIndia
Working in the tech sector, I see this as a positive sign for India's digital infrastructure. A strong telecom leader can drive innovation in 5G and IoT. However, I hope customer service standards improve as they scale.
Interesting to see the decline in market share in states like Kerala and Tamil Nadu. Maybe regional preferences or Airtel's strong presence there? Jio needs to tailor its offers for the South. Overall, a solid performance!
Bhai, Rs 321 billion in a quarter! That's some serious revenue. Jio truly disrupted the market. From paying ₹300 for 1GB to now getting 2GB/day for ₹400/month, the consumer has won. Hope they launch more affordable 5G plans soon.
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