The telecom sector’s cell subscriber web additions moderated to about 2.2 million (22 lakh) in April this yr, with analysts blaming the ‘muted’ numbers on the second wave of COVID and lockdowns.
After a robust fourth quarter of 2020-21, the place the business added 27.2 million subscribers, April was a “weak month” with solely 2.2 million web additions, UBS mentioned in its report on Tuesday.
“We attribute this to the start of the second wave of COVID,” a UBS word mentioned.
As per knowledge launched by Telecom Regulatory Authority of India (TRAI), Bharti Airtel added solely 0.5 million (5 lakh) subscribers in April, towards 4.8 million web additions by bigger rival Reliance Jio.
Troubled Vodafone Thought Ltd (VIL) shed 1.8 million subscribers in April after displaying some enhancing momentum in February and March.
Whereas Jefferies’ report noticed that the sector’s reported subscriber additions had “moderated” to 2 million because of lockdowns, a word by ICICI Securities mentioned consumer addition had slowed on account of COVID second wave and lockdown.
“Jio led the sector with 4.8 million web provides because of