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Bharti Airtel dominates postpaid market RJio leads 4G+5G subscribers

In Q1 FY24, consumer spend on mobile services (post-GST) rose 2.5% QoQ / 9.7% YoY to Rs 524 billion. Net revenue grew 2.2% QoQ / 9% YoY to Rs 500 billion led by higher intercompany settlements.

Postpaid net revenue fell 1.3% QoQ / 3.3% YoY on lower average revenue per user.

Bharti Airtel Ltd.’s postpaid sub base (including machine to machine) rose 13.4% QoQ / 38.3% YoY to 40.4 million, and its postpaid sub market share was up 421 basis points QoQ at 42.8%.

Prepaid net revenue rose 2.6% QoQ / 10.4% YoY as ARPU increased 3% QoQ / 11.8% YoY to Rs 144. 4G subs base fell 7.8% QoQ (net less: 61.9 million) to 733 million as 5G subs rose 76 million.

4G+5G sub market share for Reliance Jio was up 10 basis points QoQ to 54.2%, while that for Bharti Airtel also improved 20 bp QoQ to 28.4%.

Fibre-to-the-home subs market share for Bharti Airtel / RJio improved to 25.8% (+126 bp QoQ) / 18.4% (+37 bp QoQ), respectively.

For report, https://www.communicationstoday.co.in/wp-content/uploads/2023/12/ICICI_Securities_Telecom_Q1FY24_Performance_Indicator_Dec23.pdf

Bloomberg

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