After 5 robust quarters, telcos' revenue growth slows to single digits in Q3

India’s telecom revenue growth slowed to 9% year-on-year in the December quarter after five quarters of double-digit expansion, as gains from the July 2024 tariff hikes were fully realised. The three private operators — Reliance Jio, Bharti Airtel and Vodafone Idea — reported combined revenue of about ₹72,700 crore despite adding around 10 million subscribers, with 4G users forming 87% of the base.