March quarter results suggests signal remains weak for telecom companies

The subdued trend in ARPUs is among key concerns

The March quarter or Q4 results suggest the telecom sector is closer to a duopoly. Reliance Jio and Bharti Airtel disappointed in ARPU (average revenue per user) but both continued to register high net subscriber additions, implying Vodafone Idea is losing market share.

Jio Platforms (JPL) posted a net profit of Rs 3,508 crore for Q4FY21, compared to Rs 2,379 crore a year ago, up 47.5 per cent YoY. On a QoQ basis, PAT was flat -- just 0.5 per cent more than Q3FY21. The Ebitda margin improved to 47 per cent, from around 43.5 per cent, QoQ. JPL posted