News: As per TRAI, Jio added 2.20 million users (up 0.46% month-on-month), followed by Airtel which added 1.25 million users (up 0.32%). Vi continued to suffer losses, giving away 924,797 users in May (down 0.42%), its largest fall in three months. Bharti’s Mobile Broadband (MBB) subs base grew by 2.6mn to 270mn and RJio’s MBB subs base rose by 2.2mn to 475mn. VIL’s MBB sub-base improved 0.8mn in May’24 to 127mn.
Views: We note that on an overall basis Jio continues to lead subscribers' addition. Airtel 4G/5G data addition remains robust. With tariff hike kicking in, the impact of sim consolidation and pass through to be key monitorable ahead.
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