ICICI Securities: India’s Mobile Broadband Subscribers Dip Was A Negative Surprise

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.The Telecom Regulatory Authority of India (TRAI) has released its monthly data on subscribers (subs) and MNP (mobile number portability) for April 2020. Industry active subs dipped 31.3 million on lockdown and non-availability of offline recharges.Visitor location register (active) subs are based on best day in past 30 days, and worst could have a much higher impact. Accordingly, we have forecasted a decline in revenue for Bharti Airtel (Bharti) / Vodafone Idea Ltd. (VIL) in Q1 FY21.The negative surprise was a dip in mobile broadband subscribers by 11.2 million, with highest decline for Vodafone Idea at 6.1 million, and Bharti’s dip by 3.8 million. Bharti’s mobile broadband subscribers market share improved 20 basis points to 24.8% and Reliance Jio to 53.4% (up 58 basis points).RJio’s wired broadband subs net add is still uninspiring at 0.03 million month on month to 0.9 million, probably on logistics issue in lockdown (its market share was only at 4.7%)..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Securities: India’s Mobile Broadband Subscribers Dip Was A Negative Surprise

ICICI Securities: India’s Mobile Broadband Subscribers Dip Was A Negative Surprise

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