Reliance Jio led by billionaire Mukesh Ambani lost 79.7 lakh subscribers in September 2024 (30 days), according to the latest report by the Telecom Regulatory Authority of India (TRAI). September marked one of the largest monthly drops for telecom giant Jio. With this loss, Jio's market share now stands at 40.20%, Bharti Airtel's at 33.24%, Vodafone Idea's at 18.41% and BSNL's at 7.98%. Overall, telcos lost 10 million customers in September 2024, TRAI said.
While Jio's customer base dipped sharply, BSNL stood out as the lone gainer, adding 8.5 lakh new users. Among private operators, Vodafone Idea Ltd. continued its struggle, losing 15.5 lakh subscribers. Sunil Mittal's Bharti Airtel Ltd also saw a decline losing 14.3 lakh subscribers during the month. A total of 13.32 million requests were received for Mobile Number Portability (MNP) in September 2024.
The recent loss of subscribers marked a significant shift in the sector. This comes after the major telecom companies hiked tariff prices by around 25 per cent in July this year. Jio is still the largest telecom operator in the country.
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Earlier in October, Reliance Jio announced its Q2 results, revealing that approximately 10.9 million customers left the network during the quarter. However, Jio's 5G subscriber base grew from 130 million to 147 million. Moreover, Jio's net profit rose to Rs 6,536 crore, despite the drop in total subscribers.
