Bharti Airtel Gains Market Share Across Businesses: ICICI Securities
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ICICI Securities Report
Bharti Airtel Ltd.’s Q3 FY21 performance was exemplary with strong execution and market share win across mobile, fibre-to-the-home, enterprise and direct-to-home.
We are impressed by its 4G and postpaid sub additions and improvement in customer engagement metrics versus peers.
Also, higher 4G sub-base will enable the company to better translate tariff hike into average revenue per user whenever the hike happens (we believe it is matter of ‘when’ and not ‘if’).
It gives us strong confidence in higher than assumed terminal revenue market share for the company.
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