Mukesh Ambani, the owner of Reliance Jio, received good news to start the new year. The company’s Adjusted Gross Revenue (AGR) has seen a significant increase. According to the latest figures, Reliance Jio’s AGR has risen by 15.7% in the October-December quarter of the current fiscal year. This increase is a testament to the company’s growing user base and strong financial performance.
Sunil Mittal, the owner of Airtel, has also reported a similar increase in AGR. Airtel’s AGR has risen by 10.4% in the same quarter. Both companies have benefited from the ongoing 5G spectrum auction, which has increased their revenue and profitability.
Reliance Jio’s AGR increase is attributed to its robust growth in subscribers, data revenue, and other sources of income. The company’s focus on offering affordable data plans and expanding its 4G network has contributed to its growth. Airtel’s increase in AGR is also attributed to its growing subscriber base and increasing revenue from data services.