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India Strategy 1QFY25 Preview Report-Telecom, MOSFL

The India Strategy April-June 2024 preview report by MOSFL expects moderate growth to continue; tariff benefits in 2Q expect moderate growth supported equally by growth in subscribers/ARPU.

“We expect the telecom sector to see moderate revenue growth of 2.3% QoQ in 1QFY25, driven by an increase in subscribers (+0.9% QoQ) and mix-led ARPU improvements (+1.1% QoQ). In the absence of a tariff hike, we expect incremental EBITDA margin to remain at ~59%. CapEx is expected to remain steady QoQ. The benefit of the recent tariff hikes will be spread out in 2Q-4QFY25. After the tariff hikes, the catalysts for the telecom stocks would be subscriber gains, a reduction in churn, 5G adoption, and an increase in data customers.” says the report.

For details, https://www.communicationstoday.co.in/wp-content/uploads/2024/07/INDIA_STRATEGY-1QFY25-20240707-MOSL-RP-PG260.pdf

CT Bureau

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