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Telecom Sector Update - Subscriber Base Consolidates; Reliance Jio Leads The Growth: Motilal Oswal

Telecom Sector Update - Subscriber Base Consolidates; Reliance Jio Leads The Growth: Motilal Oswal

<div class="paragraphs"><p>A pedestrian wearing a protective mask walks past advertisements for Jio Platforms Ltd., in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)</p></div>
A pedestrian wearing a protective mask walks past advertisements for Jio Platforms Ltd., in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

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.

Motilal Oswal Report

Gross subscriber base for the industry fell steeply (20.7 million) to 1,166 million on account of a 19 million decline in Reliance Jio’s gross subscriber base due to a cleanup of inactive subscribers.

However, active subscribers grew by 3.9 million to 996 million (2.4m additions in August 2021).

While active subscribers for both Bharti Airtel Ltd. / Vodafone Idea Ltd. remained fairly flat at 347 million/236 million, Reliance Jio continued its strong addition with 4.7 million subscribers (4.1 million in August 2021).

Reliance Jio continues to lead, with an active subscriber share of 35.7% versus 34.8% for Bharti.

As a result, total VLR for Reliance Jio improved by 460 basis points to 83.65% in September 2021.

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Motilal Oswal Telecom Sector Update.pdf

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