Telecom Q4 Performance Indicator - Good Growth In Wireless Revenue Despite No Tariff Hike: ICICI Securities
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ICICI Securities Report
In Q4 FY21, consumer spend on mobile services (post goods and services tax) rose 2.6% QoQ / 12.4% YoY to Rs 400 billion despite no tariff hike in the past one year. This is good.
Postpaid net revenue dipped 0.6% YoY, while it was up 4.7% QoQ on rising subscribers.
Prepaid net revenue grew 3.2% QoQ / 16.6% YoY and average revenue per user rose 2.1 QoQ / 15.5% YoY to Rs 97.
4G subscriber addition was strong at 4.5% QoQ (net add: 31.4 million) to 729 million.
Reliance Jio’s 4G sub market share dipped 60 basis points QoQ (down 315 bps YoY) to 58.0%.
Bharti Airtel Ltd.’s 4G sub market share improved to 24.6%, up 85 bps QoQ / 310 bps YoY, and the company has been gaining market share in data usage, which rose 110 bps QoQ / 490 bps YoY to 33.1%.
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