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MOSL: TELECOM-A ‘clean-up’ underway; RJio only player to add active subscribers but pace slows down again

TELECOM: A ‘clean-up’ underway; RJio only player to add active subscribers but pace slows down again

 

The Telecom Regulatory Authority of India (TRAI) has released subscriber data for the month of April'19. Key highlights:

• Industry net active subscriber base declined by 22.1m MoM to 999.6m in Apr'19. Bharti's active subscriber base declined marginally by 3.7m, while Vodafone Idea (VIL) lost massive 26m active subscribers. RJio was the only player to add subscribers (+7.2m), but we note of a deceleration in the pace of its subscriber addition.
• RJio's gains can be attributed to the Jiophone offtake. For Bharti, the impact of minimum recharge plans appears to be subsiding. However, Vodafone Idea is likely continuing to witness a sharp decline in low-ARPU subscribers.
• Broadband subscriber adds stood at a mere 3.6m (+12.8m in Mar'19), reaching 548m (55% of active subscriber base).
• RJio continued adding MBB subscribers (+8m) at a healthy pace. Bharti and Vodafone Idea witnessed a marginal fall in MBB subscribers, possibly indicating SIM card consolidation.