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Telecom revenue growth forecasts cut on higher competition, demonetisation

Revenue growth fell to 4% in September quarter as compared to over 5% average growth in last six quarters

Ram Prasad Sahu  |  New Delhi 

With Reliance Jio extending its free offer beyond December 2016 and the impact of demonetisation, analysts have cut their revenue forecast going ahead. CLSA believes that revenue and operating profit for incumbent operators will fall between 1-8 per cent over in the FY17-19 period. Revenue growth for the telecom sector in the September quarter fell to 4.4 per cent as compared to the year ago quarter largely due to pricing pressures brought on by free offers from Reliance Jio. The initial welcome offer announced by Reliance Jio ends on December 3, the last day of the 90-day period. ...

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