TRAI Data — Subscriber Addition Trend Stable In August; RJio’s FWA Subs Base Scaling Well: ICICI Securities

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ICICI Securities Report

The Telecom Regulatory Authority of India has released its data on subscribers for August 2025. Industry-wide active subs base rose 3 million month-on-month.

Bharti Airtel’s active subs rose 1.3 million, Vodafone Idea’s dipped 0.1 million and Reliance Jio’s active subs increased 2.3 million in Aug’25 – a stable trend.

BSNL’s active subs declined 0.5 million. Industry-wide mobile broadband (excluding -fixed wireless access) subs net add rose 3.7 mn. Bharti’s MBB net add was 1.8 mn, and subs market share was at 31.8%, up 7bp MoM on an active basis; Reliance Jio’s was at 51.6%, up 23bp.

Vodafone Idea saw a dip of 0.1 mn subs and its market share stood at 13.8% (4 bp MoM dip). RJio’s FWA subs were at 8.9 mn, up 0.89; but also includes unlicenced band radio-FWA from Aug’25. RJio has a dominant 80.6% market share in FWA; Bharti’s net add was 0.19 mn at 2.1 mn subs.

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