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Industry consolidation continues; BHARTI/RJio grab share from IDEA

The Telecom Regulatory Authority of India (TRAI) has released subscriber data for Sep’22. Here are the key highlights:

* The Telecom industry saw a 3.7m fall in gross subscribers on a MoM basis (v/s a gain of 1.1m in Aug’22), eliminating the gains of 3.6m in the last three months (Jun-Aug’22). This was triggered mainly by the SIM consolidation in IDEA (which led to a loss of 4m subscribers on a MoM basis).

* The active subscriber base saw a marginal decline of 0.6m MoM at 1,014m (v/s additions of 1.3m in Aug’22). BHARTI/RJio added 2.5m/0.9m subscribers, while IDEA lost 3m subscribers on a MoM basis.

* 4G subscribers: Industrywide 4G subscriber additions moderated to 1.5m, taking the total count to 784m (v/s 5.7m additions in Aug’22). BHARTI led the 4G subscriber additions at 1m, while RJio/IDEA added 0.7m/0.1m subscribers.

* BHARTI saw moderate (0.4m MoM) gross subscriber additions (v/s 0.3m additions in Aug’22). Active subscriber additions were higher than gross subscribers at 2.5m MoM to 359m (v/s additions of 0.3m in Aug’22), implying a market share gain of 30bp to 35.4%. Incremental 4G additions were the highest in the industry at 55% as it added 1m subscribers (v/s 1.7m in Aug’22), taking its total 4G subscriber count to 220m.

* RJio’s gross subscriber additions moderated to 0.7m (v/s 3.3m in Aug’22), but retained its pole position in market share at 36.7%. Active subscriber additions too softened to 0.9m MoM (v/s 3m additions in Aug’22), maintaining its active subscriber share at 38.1% in Sep’22.

* IDEA continued to witness a MoM gross/active subscriber decline of 4m/3m (v/s a decline of 2m/1.7m in Aug’22) to 249m/212m. Its 4G subscriber base remained flat at 123m in Sep’22.

* Wired broadband subscribers for the industry continued to grow, up 0.7m MoM to 31.1m. RJio/BHARTI added 270k/140k subscribers MoM, while BSNL’s subscriber net additions were flat on a MoM basis.

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