Reliance Jio, India's largest telecom operator's AGR (adjusted gross revenue) market share was down in Q1 FY24. This happened because the telco lost market share in 13 telecom circles during the quarter. Some of the prominent circles where the telco lost huge chunks of AGR market share are Kerala, U.P. East, West Bengal, and Bihar. At the same time, the telco saw a significant pick-up in AGR in Delhi and U.P. West circles. Despite losing on the market share, Jio's AGR market share is still the highest in the industry.
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Jio's AGR market share during Q1 FY24 was 41.6%, according to ICICI Securities. Bharti Airtel, the second-largest telecom player in India had an AGR market share of 37.2% during the same quarter. Airtel saw growth in AGR and it grew faster than its competitors. The telco saw great growth in the Metro, B and C circles while in the A circle, its AGR was stable QoQ.
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Vodafone Idea (Vi) saw its AGR grow by 0.7% QoQ, but it dipped 1.4% YoY. Vi's AGR market share at the end of the quarter was 16.3%. Vi underperformed in its leadership circles during the quarter.
Bharti Airtel likely saw its AGR going up because of its growing wireless and wireline subscriber base and an indirect tariff hike on the base plan offered. To recall, Airtel removed the Rs 99 plan from its offering for the entire 22 telecom circles and now the new base plan costs Rs 155. The telco has also increased the prices of its services in a very subtle and indirect manner. For example, the Rs 29 plan that used to come with 2GB of data and 2 days validity now comes with 2GB of data but only 1-day validity.
