MUMBAI -- India's top three mobile carriers continued to take a hit from the price-cutting offensive by Reliance Jio Infocomm in the April-June quarter.
Bharti Airtel, Vodafone India and Idea Cellular sustained a decline in earnings, while the telecom arm of energy conglomerate Reliance Industries enjoyed a surge for the three-month period. A relative newcomer to the industry, Jio began its service in 2016. It has since put downward pressure on India's mobile rates, which were already among the lowest in the world.
