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Sector Update: Telecom

Sector Update: Telecom
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First Published: Mon, Jun 08 2009. 10 30 AM IST
Updated: Mon, Jun 08 2009. 10 30 AM IST
Wireless subscriber additions fell 24% m-o-m, adding 11.9 million users in March 2009, to touch 403.66 million (3% m-o-m growth) with respective market shares of operators remaining more or less stable.
The leader, Bharti Airtel (market share at 24%, share in net adds 23.6%) maintained its lead in 8 circles, while marginally losing market share in J&K and Maharashtra.
Although RCom’s subscriber additions fell 28% to 2.17 million in April, it displaced BSNL to rank third in Rajasthan and Tata Teleservices to rank fourth in Maharashtra.
Despite Idea’s foray into Orissa in April, it recorded a 23% fall in net additions to 1.15mn and loss of market share in Delhi and Haryana. While net additions in Metros slowed, ’B’ and ’C’ circles continued to dominate, with 59.3% share in net adds.
We maintain our view that divergence in subscriber deactivation rules must have led to double counting by telcos during FY09, and net additions will moderate as we progress into the fiscal.
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First Published: Mon, Jun 08 2009. 10 30 AM IST
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