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Motilal Oswal Report
The Telecom Regulatory Authority of India released the subscriber data for October 2024. The key highlights are as follows:
Wireless subs: Reliance Jio’s inactive subs cleanup continues; subs recover for Bharti Airtel Ltd. The industry’s wireless subscribers dipped further by 3.3 million month-on-month (following a ~17 million decline in Q2 FY25), largely due to the cleanup of inactive subscribers by RJio. However, the impact of tariff hike-led SIM consolidation seems largely behind with net adds recovering for Bharti Airtel and gains moderating for BSNL. Excluding IoT devices, wireless subs base declined ~4.8 million in Oct-24 (versus -18.9 million in Q2 FY25).
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