Telecom Sector Update - Bharti Airtel’s Performance Shines Again: ICICI Securities
A man uses his mobile phone at a store on Dahanu Road in Kainad, Maharashtra, India. (Bloomberg News)

Telecom Sector Update - Bharti Airtel’s Performance Shines Again: ICICI Securities

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 Securities Report

In Q3 FY21, consumer spend on mobile services rose 4.6% quarter-on-quarter/20.9% year-on-year to Rs 390 billion on benefit of price hike and 4G penetration.

Postpaid net revenue dipped 8.1% YoY, while it was up 0.4% QoQ on rising subscribers.

Prepaid net revenue grew 6.2% QoQ/34.1% YoY and average revenue per user rose 5.6 QoQ/35.7% YoY to Rs 95.

4G subscriber addition was strong at 3.3% QoQ (net addition: 22.4 million) to 698 million.

Bharti Airtel Ltd.’s 4G subscriber market share improved to 23.7%, up 110 bps QoQ/320 bps YoY, and the company has been gaining market share in data usage, which rose 170 bps QoQ/550 bps YoY to 32% (significantly narrowed gap with its adjusted gross revenue market share, which is a positive).

Click on the attachment to read the full report:

ICICI Securities Q3FY21 Telecom Performance Indicator .pdf

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