40% revenue plunge at India telcos show transformation is not always nice

India has proved to be one of the tougher markets for telcos over the last few months, and the misery is set to continue according to a report from Crisil Research.
The twists and turns experienced by the sector have had two very contradictory outcomes. Consumers are living the dream, while the telcos are getting toasted. The introduction of Reliance Jio was laughed off by some in the early months, but the impact has been profound with few smiles remaining.
The estimates from Crisil Research are