Telecom Q2 Performance Indicator - Industry Revenue Growth Remains Strong: ICICI Securities
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ICICI Securities Report
In Q2 FY22, consumer spend on mobile services (post goods and services tax) rose 2.7% QoQ / 9.7% YoY to Rs 409 billion, aided by tariff rise in 2G base pack and shift from 2G to 4G.
Postpaid net revenue rose 6.4% QoQ / 4.9% YoY on rising subscriber base. Prepaid net revenue grew 2.3% QoQ / 15.7% YoY and average revenue per user rose 3.5 QoQ / 13.5% YoY to Rs 102.
4G sub addition slowed to 0.3% QoQ (net add: two million) to 749 million on cancellation of inactive subs by Reliance Jio.
RJio’s 4G sub market share dipped 170 basis points QoQ (down 310 bps YoY) to 56.7% while that for Bharti Airtel Ltd. improved to 25.7%, up 100 bps QoQ / 310 bps YoY.
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