"Smartphone penetration and growing data usage have been the largest contributors to accelerating revenue growth for telecom companies even though subscriber addition has been relatively modest," said Balaji Subramanian, vice president at equity research firm IIFL Securities.
TRAI’s report on the telecom industry’s fiscal second quarter performance also indicated that monthly average revenue per user (ARPU) from wireless services rose 9.60% on-quarter to Rs 172.57.
In 2022, the Centre approved a second revival package for BSNL and MTNL amounting to ₹1.64 lakh crore, that included financial support for de-stressing the balance sheet, capital expenses, settlement of adjusted gross revenue (AGR) dues, and viability gap funding (VGF) for rural landline connections.
Earlier this month, Vodafone sold its remaining 3% stake in Indus via multiple block deals, raising around Rs 2,801.7 crore, and fully exited the Indian tower company that is now a Bharti Airtel subsidiary.
