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.