The country’s telecom sector continued to witness an overall improvement in financial performance during 2024-25, with several leading players reporting double-digit growth in total income. Bharti Airtel and Reliance Jio spearheaded this revenue expansion, while Vodafone Idea Limited (Vi) recorded modest growth. However, public sector operators Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) faced revenue pressure, with BSNL reporting a slight decline in annual income.
Across the broader ecosystem, infrastructure and digital service providers such as Indus Towers and Tata Communications registered steady revenue expansion. However, the performance of equipment and fibre manufacturers remained uneven. While firms such as Tejas Networks recorded a significant surge in both income and profitability, several fibre-focused manufacturers, including Aksh Optifibre and Birla Cables, faced pressure on their toplines.
On the profitability front, the sector showcased a clear trend of financial recovery. While market leaders posted notable gains, several traditionally loss-making entities, including Vi, BSNL and ITI Limited, significantly narrowed their annual losses. However, some firms such as Tata Teleservices (Maharashtra) Limited (TTML) faced intensified margin pressure, sliding deeper into losses or reporting sharp declines in quarterly performance despite consistent revenue activity.
A look at the financial performance of select companies in the Indian telecom space…
