Over the past ten years, India’s telecom industry has seen major changes driven by intense competition, fast-paced digital adoption, and a sharp rise in data usage. This report reviews and analyzes the recent performance and key developments of two leading telecom companies.
Industry Overview
India’s telecom industry is growing steadily as more people use smartphones and consume more data. Companies are expanding networks, improving internet speeds, and rolling out 5G services. Despite strong competition, operators aim to boost revenue through better plans and stronger networks. Ongoing investments and regulatory changes continue to support the sector’s long-term growth.
Here are two major telecom companies that are expanding quickly; let’s compare them to understand how they are performing.
With market capitalization of Rs. 20,91,375 crore, Reliance Industries Ltd is trading at Rs. 1,545, and Bharti Airtel Ltd, with market capitalization of Rs. 12,90,958 crore, is trading at Rs. 2,153.
About the companies
Airtel, an India-based global telecom leader, serves over 600 million customers across 15 countries, including India and several African markets, with additional operations in Bangladesh and Sri Lanka. It is India’s largest integrated communications provider and ranks among the top three mobile operators worldwide. The company offers services such as 4G/5G connectivity, high-speed broadband, digital entertainment, payment solutions, and enterprise services including cloud, cybersecurity, and IoT. Airtel also provides passive infrastructure support through its subsidiary, Indus Towers Ltd.
Airtel partnered with Perplexity to offer free-of-cost subscriptions to all its customers, launched Airtel Cloud, a sovereign cloud platform with telco-grade reliability, and strengthened its fight against fraud, reducing financial losses for customers by nearly 70 percent.
Founded in 2016, Jio is a prominent Indian technology company recognized for building advanced digital infrastructure. It rolled out the world’s largest LTE and VoLTE networks and quickly launched 5G using in-house technology. Jio holds the most 6G patents and has developed proprietary software systems. With a nationwide presence, the company offers cloud, gaming, and digital solutions for both consumers and businesses, continuing to shape India’s digital future with its 5G innovations.
Comparison of Q2 Financial Results
In Q2FY26, Bharti Airtel Ltd reported Revenue of Rs. 52,145.4 crore grew by 25.73 percent year-on-year from Rs. 41,473.3 crore in the same quarter previous year. JIO showed a growth of 14.6 percent, with revenue rising from Rs. 31,709 crore to Rs. 36,332 crore.
Jio’s net profit increased by 12.8 percent from Rs. 6,593 crore to Rs. 7,375 crore yearly. Whereas Bharti Airtel’s net profit rose by 108.28 percent from Rs. 4,153.4 crore to Rs. 8,650.8 crore.
Operational Highlights
As on September, 2025, Bharti Airtel has a total customer base of 62.35 crore in India whereas Jio has 50.64 crore. Average Revenue Per User (ARPU) of Airtel stands at Rs. 256 per month with 9.8 percent growth yearly whereas Jio’s stands at Rs. 211.4 per month with 8.35 percent growth.
From Q2FY25 to Q2FY26, Airtel’s total data consumption increased from 1,931.1 crore GB to 2,444.6 crore GB, reflecting a growth of approximately 26.6 percent. During the same period, Jio’s data consumption rose from 4,500 crore GB to 5,840 crore GB, marking an increase of about 29.78 percent. As of Q2 FY26, Per capita data consumption of Airtel is 28.3 GB, whereas Jio is 38.7 GB.
Conclusion
Both Bharti Airtel and Jio have shown strong growth in Q2FY26, highlighting the strength of India’s telecom sector. Airtel has delivered impressive revenue and profit growth with a large and expanding customer base, while Jio continues to lead in overall data usage and technology with its advanced networks and digital services. Choosing between the two depends on priorities, as Airtel shows strong financial momentum and growing margins, whereas Jio offers scale, innovation, and market leadership.
Written by Akshay Sanghavi
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