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Motilal Oswal Report
The Telecom Regulatory Authority of India released subscriber data for April 2020, reflecting the full impact of the nationwide lockdown.
Here are the key insights:
Industry gross subscribers shrank by 8.2 million month-on-month to 1.15 billion in April 2020 (versus 2.9 million loss in March 2020). Bharti Airtel /Vodafone Idea Ltd. lost 5.3 million /4.5 million, while, albeit at a slower pace, Reliance Jio added 1.6 million subscribers.
Active subscribers plunged by 31.2 million to 958 million (versus 2.2 million adds in March 2020) on expected lines, as Bharti/RJio/Vodafone Idea lost 8 million /7.2 million/14.1 million subscribers due to the unavailability of physical recharges and financial constraints.
Industry mobile broadband subscribers declined by 11.2 million to 657 million (versus 6.2 million adds in March 2020). MBB subscribers accounted for for 68.5% (up 100 basis point MoM) of active subscribers.
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