Bharti Airtel was the third telecom major to declare January-March quarter (Q4) results and industry trends are clearly improving. Reliance Jio, Vodafone Idea (VIL) and Airtel together control 90 per cent subscriber market share. All three raised tariffs in December, leading to higher ARPU (average revenue per user, per month). Revenue is up and EDITDA margins have improved for all. EBITDA is earnings before interest, tax, depreciation and amortisation.
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