Q1FY23E will see slower mobile revenue growth due to 1) subs decline for Bharti/VIL; 2) fewer 4G net add due to lower smartphone sales, thus, not much advantage of premiumisation; and 3) negligible benefit of Dec’21 tariff hike, except for RJio which will benefit on higher proportion of long validity recharge subs. However, one additional day is the key reason for revenue growth during the quarter for Bharti/ VIL.