ICICI Securities Limited
The Telecom Regulatory Authority of India (TRAI) has released its data on subscribers (subs) for Apr’23. Industry-wide active sub base rose by 4.1mn MoM (vs rise of 6.7mn in Mar’23 and rise of 3.4mn average in the past six months) with Bharti Airtel (Bharti) adding only 0.7mn subs (vs 1.8mn in the past six months), impacted by an increase in minimum recharge.
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