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MOSL: TELECOM-Industry in consolidation mode with drop in active subs

TELECOM: Industry in consolidation mode with drop in active subs

The Telecom Regulatory Authority of India (TRAI) released the subscriber data for Aug'19. Key insights highlighted below:

** The telecom industry is witnessing subscriber consolidation, with gross subscriber addition inching up a meager 3m MoM (approximately same as Jul'19) to 1.17b subscribers in Aug'19. Notably, RJio was the only player to add subscribers (+8.4m to 348m) in the month, while Bharti lost 0.6m subscribers (incl. +8.2m TTSL subscribers) and VIL lost 5m subscribers (v/s 3m in Jul'19).

** Active subscriber base declined by 2.2m MoM to 970.2m in Aug'19, on the back of Bharti and VIL losing customers; Bharti/VIL lost 5.7m/2.9m. RJio was the only player to add active subscribers of +7.2m in Aug'19 (average of last 3months/6months at 7.1m/6.6m), in Jul'19, RJio had added 4m active subscribers.

** At the gross level, VIL has the highest subscriber base, but is losing it at a higher pace than Bharti. On the other hand, RJio is consistently adding subscribers and is moving closer to Bharti/VIL in terms of active subscriber base.