Latest News – The telecom industry has lost about 20 per cent of revenue due to Reliance Jio’s free services, India Ratings and Research has said, revising the sectoral outlook for 2017-18 to negative.
India Ratings and Research (Ind-Ra), a Fitch group company, said the revision of outlook on the sector to negative for 2017-18 from stable-to-negative for 2016-17 is due to “increasing competition”.
“The negative outlook reflects Ind-Ra’s expectation of longer and deeper than expected deterioration in the credit profile of telcos following the extended free services by Reliance Jio Infocomm,” its latest report on corporate outlook said.
The report further said the industry has lost about 20 per cent revenues due to the free services by RJio.
“The existing telcos would lose market share to RJio and suffer profitability while the (Read More)