Airtel narrows AGR mkt share gap with Jio in Q1, Vodafone Idea loses as rivals accelerate 5G rollout: Analysts

NEW DELHI: Bharti Airtel’s adjusted gross revenue (AGR) market share increased year-over-year in Q1FY24 on the back of its rural expansion, helping it narrow the gap with telecom market leader Reliance Jio, while third-ranked Vodafone Idea’s growth was subdued on account of continued subscriber losses and accelerated 5G rollout by its rivals, according to analysts.

ICICI Securities in a research note Wednesday said that Airtel’s AGR (incl. NLD) market share rose to 37.2% – 168 basis points (bps) year-over-year – compared to Jio’s AGR market share which improved by 73bps year-over-year to 41.6%.