Jio Effect : Airtel profits decreased

Mumbai, MAY 10: We all know that Reliance Jio has made a grand entry into the market in September 2016. We knew that right from the launch of JIO it had made a sensation in all aspects.

We know that there is a stiff competition between telecom operators in the last 6 months to attract customers. As a result, we have seen Vodafone and IDEA mobile operators announced their merger.

Currently, the JIo has shaken Airtel profits. The details are as follows

Quarterly results of Airtel company was released yesterday.

* Q1 results have shown that airtel net profit has reduced by 72 %.

* The net profit of the company for Q1 of 2017-18 stood at RS 373.4 Crores.

* The total revenue generated by the company has reduced by 12 % and stood at Rs 21934 Cr for the financial year 2016-17.

Finally, the company had said that the loss in company's profit is because of free offers issued by JIo. Lets hope that Airtel announces new offeres to cusomers to rise it profits.