In Q1FY24, consumer spending on mobile services (post-GST) increased by 2.5% QoQ/9.7% YoY to Rs 524 billion. Net revenue grew 2.2% qoq / 9% yoy to Rs 500 billion, driven by higher intercompany settlements.
Postpaid net revenue fell 1.3% QoQ/3.3% YoY due to a decline in average revenue per user.
The postpaid market sub-base of Bharti Airtel Ltd. (including machine-to-machine) grew 13.4% qoq/38.3% yoy to 40.4 million, and its postpaid secondary market share increased 421 bps qoq to 42 .8%.
Prepaid net revenue grew 2.6% qoq / 10.4% yoy while ARPU grew 3% qoq / 11.8% yoy to Rs 144 The 4G subscription base fell 7.8% quarter-on-quarter (net loss: 61.9 million) to 733 million while 5G subscriptions increased by 76 million.
Reliance Jio’s 4G+5G submarket share increased by 10 basis points quarter-on-quarter to 54.2%, while that of Bharti Airtel also improved by 20 basis points quarter-on-quarter to 28, 4%.
Bharti Airtel/RJio’s fiber-to-the-home subscriber market share improved to 25.8% (+126 bps QoQ) / 18.4% (+37 bps QoQ), respectively.
