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Reliance Jio Infocomm, controlled by Reliance Industries (RIL) recorded a sharp fall in mobile phone user additions in December 2019. Jio added 82,308 mobile users, taking its subscriber base past 37 crore in December. This was lower than 91 lakh and 56 lakh customer additions reported by the company in October and November respectively last year. Shares of RIL were down 1.04% at Rs 1401.50.
Debt-laden Vodafone Idea lost 36.44 lakh users in December, while Bharti Airtel lost 11,050 users over November 2019. Consequently, Vodafone Idea and Airtel's customer bases fell to 33.26 crore and 32.72 crore respectively, as per latest subscriber data collated by TRAI.
Shares of Bharti Airtel were down 2.42% at Rs 522.40. Vodafone Idea was down 1.01% at Rs 3.91.
According to reports, Bharti Airtel has to pay Rs 35,586 crore to the government while Vodafone Idea owes Rs 50,000 crore in AGR case. Telecom companies hiked their tariffs from 1 December 2019.
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