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Motilal Oswal Report
The Telecom Regulatory Authority of India has released subscriber data for March with some glimpses of the lockdown impact.
The telecom industry lost 2.9 million gross subscribers in March 20 to reach subscriber base of 1,158 million. This is in contrast to the gross addition of 4-5 million monthly subscriber adds seen in January-February 20, possibly on account of the nationwide lockdown measures and rise in tariff plans.
Reliance Jio's gross subscriber base increased by 4.7 million (vs 6.6 million/6.3 million adds in January/February 20) to reach 388 million, while Bharti saw loss of 1.3 million after five months of continuous subscribers adds. Vodafone Idea Ltd. lost 6.4 million gross subscribers during the same period.
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