Due to Jio free offers, telecom industry loses 20 per cent revenue
The telecom industry has lost about 20 percent of revenue due to reliance jio free service. India's rating and research said, revising the sector 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. Also read : Jio play mandatory problem solved, download app from here 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 debt burden will increase due to spectrum and network-related capex (capital expenditure), the...