Bharti Airtel chairman Sunil Mittal, with a net worth of USD 12.1 billion according to Forbes, is one of India’s wealthiest business figures. His telecom company, Airtel, which boasts millions of subscribers, provides strong competition to Mukesh Ambani’s Reliance Jio, the market leader.
Recent data from the Telecom Regulatory Authority of India (TRAI) reveals that Airtel continues to narrow the revenue market share (RMS) gap with Reliance Jio, thanks to strong performance in both urban and rural markets. While Jio maintains the leading share, Airtel was the only operator to gain market share in Q2 FY24.
For Q2 FY24, Airtel’s RMS stood at 37.3%, while Jio’s was at 42.1%. This has reduced the RMS gap between the two companies to just over 300 basis points in Q2 FY25, down from 480 basis points a year earlier. The top three operators—Airtel, Jio, and Vodafone Idea—account for 95% of the sector’s revenue, with Jio holding a 41.6% market share.
According to the latest TRAI data, Airtel gained 180 basis points year-on-year in Q2 FY24, increasing its RMS to 39.1%, while Jio saw a smaller increase of 18 basis points to 42.2%. Airtel’s market capitalization stood at Rs 9.67 lakh crore as of December 5.
