reports
- Chris Hoare
EM FWA-Watch S-Curve continuing to accelerate in India, with implicat...
Indian FWA net adds continue to accelerate and reached roughly c. 2.1m in the December quarter. India is probably therefore now accounting for around 50% of global shipments. We continue to think this is a critical development, and likely to drive an S-curve of adoption in Global EM.
- Chris Hoare
Reliance Industries Ltd (Buy, INR 1,700, +32%) Q3 FY25 Quick Take: Tu...
Reliance Industries posted strong results yesterday, backed by the turnaround in Retail during the festive period and recovery in O2C margins. Jio remained the bright spot as ARPU accelerated and crossed the INR 200 mark. Momentum continues to build for broadband as Jio AirFiber reached 4.5m.
- Chris Hoare
- Chris Hoare
- Chris Hoare
- Chris Hoare
- Chris Hoare
Reliance Industries (Neutral, TP: INR 3,400, +25%) Q2 FY25 Quick Take...
Reliance Industries posted results yesterday. Jio remained the bright spot as it benefited from the tariff hike effective since July. However, weaker O2C and Retail saw revenue decelerate whilst EBITDA was lower due to the fall in O2C product margins. Notwithstanding this, momentum is building up for Jio AirFiber as FWA additions accelerated and commentary suggests that Retail sales is picking up in October leading up to the festive period.
- Chris Hoare
EM Telcos Jio targeting doubling in size and 1m monthly adds for FWA ...
What's New: At Reliance Industries’ AGM last week, Jio announced 2 key things, and did not announce a 3rd: What was announced: 1. A doubling of Jio’s profitability in 3-4 years 2. Target of 1m FWA adds per month What was not announced: 1. A time line for Jio IPO Our thoughts and implications for the Indian & Global telco markets below
- Chris Hoare
Indonesian Telcos Q2 24 review: Continued margin expansion from XL an...
Indonesian telcos returned to a more sustainable pace of revenue growth, with EBITDA ahead of topline for XL and Indosat again. As a result, Indosat recorded its highest ever EBITDA margin whilst XL’s margin remained well ahead of guidance. For Telkomsel, enterprise accelerated with strong Indihome net additions but was marred by continued mobile revenue share dilution (although easing) as peers grabbed shares in ex-Java.
- Chris Hoare
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.