Telecom Sector Q1 Results Preview - Muted Quarter: ICICI Direct
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Post the interconnection usage charges impact in Q4 FY21, Q1 FY22 was marked by the second wave led lockdown (impacting subscriber addition) and extension of validity for bottom of the pyramid customers, which will restrict average revenue per users.
For Bharti Airtel Ltd., we bake in subscriber addition of ~2 million, while for Vodafone Idea Ltd., we expect subscriber loss of ~4 million (versus ~2 million in Q4).
For Airtel, reported ARPU is likely to be flattish QoQ at Rs 145. Indian wireless revenues are expected to be flattish at Rs 14,085 crore.
For Vodafone Idea, with ARPU decline of ~3% QoQ at Rs 104, we expect overall revenues to decline 4% QoQ at Rs 9216 crore.
Click on the attachment to read the full report:
This 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 author entity 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.