Idea Cellular loses No.3 spot to Jio; Q3 revenue dips 13% to Rs 65 bn

Idea becomes fourth largest telecom player falling behind Jio

Telecom major Idea Cellular  on Wednesday reported revenue of Rs 65.5 billion in the third quarter ending December, losing it’s third spot by revenue share to Reliance Jio which reported Rs 68.8 billion revenue in the quarter.  Idea revenue dropped 12.8 per cent compared Rs 75.1 billion in the previous quarter and Rs 87 billion in the year ago period remaining in line with analyst estimates with losses ballooning to Rs 12.8 billion up from Rs 3.8 billion a year ago.

Reliance Jio reported Rs 68 billion revenue and a profit of Rs 5 billion being the only operator to