Telecom Q4 Results Preview: Stable Mobile Revenue Growth, But For Two Lesser Days — ICICI Securities

Bharti Airtel’s ARPU may decline 1.2% QoQ/ +16% YoY to Rs 242 and Bharti Hexacom’s could rise 0.5% QoQ/ 18.9% YoY to Rs 243. Reliance Jio’s ARPU may jump 2% QoQ/ 14.1% YoY to Rs 207 – higher versus Bharti Airtel, as RJio has some residual benefit of tariff hike from long validity customers..NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Telcos took tariff hikes in July 2024, which boosted average revenue per users in previous two quarters; some residual benefit should show in Q4 FY25E for Reliance Jio, but for two lesser days. Subs net add has normalised in mobile, and acceleration may be visible in FWA, particularly for RJio. Our Q4 FY25 estimates point to mobile services revenue dip for Bharti Airtel (down 0.1% QoQ) and Vodafone Idea Ltd. (1.2%), but RJio’s revenue could grow at 2% QoQ. Bharti Hexacom Ltd.’s revenue (+2.7% QoQ) to benefit from seasonality in roaming services in Rajasthan circle. Subs add for Bharti could be 3 million, and RJio at 4 mn (partly benefitting from strong net add in FWA); Vodafone Idea may lose 1 million subs. Bharti India’s reported numbers would include Indus Towers’ complete consolidation due to the change in company status to subsidiary, from earlier associate..Tata Communications’ data revenue performance may improve at 4% QoQ/ 9.5% YoY growth while Ebitda margin could dip 5bp QoQ on change in mix towards digital services. Consolidated Ebitda to grow 2.4% QoQ. Indus Towers’ (Indus) tenancy adds (+10,000) may accelerate with Vodafone Idea rolling out 4G network but its Ebitda growth may appear optically weak due to a one-off in Q3 FY25 on provision reversal..Click on the attachment to read the full report:.IT Services, Internet, Software, KPO Q4 Results Preview: Weakening Macro To Curb Growth — Dolat Capital.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Telecom Q4 Results Preview: Stable Mobile Revenue Growth, But For Two Lesser Days — ICICI Securities

'Buy' Bharti Airtel, Tata Communications, and 'Hold' Vodafone Idea among other telecom stocks, says ICICI Securities

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