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Bharti Airtel gains after good subscriber addition in July

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Bharti Airtel rose 1.05% to Rs 419.6 after the telecom major added 3.26 million subscribers in July with its market share improving to 27.96%.

As per the TRAI data, India's telecom industry gained 3.5 million gross subscribers during July to take the overall base to 1144 million. India had lost 3.2 million subscribers in June.

Total wireles subscribers (2G,3G & 4G) increased from 1,140.71 million at the end of June 2020 to 1,144.18 million at the end of July 2020, thereby registering a month-on-month growth rate of 0.30%.

Bharti Airtel has the maximum proportion (97%) of its active wireless subscribers (Visitor Location Register, or VLR) as against its total wireless subscribers (Home Location Register, or HLR) on the date of peak VLR in the month of July 2020.

As on 31 July 2020, the top five wireless broadband service providers were Reliance Jio Infocom (400.80 million), Bharti Airtel (153.25 million), Vodafone Idea (115.26 million), BSNL (15.17 million) and Tikona Infinet (0.30 million).

Bharti Airtel is a leading global telecommunications company with operations in 18 countries across Asia and Africa.

The telecom major reported a consolidated net loss of Rs 15,933 crore in the June quarter as against net loss of Rs 2,866 reported in the same period last year. Total revenues increased by 15.4% year-on-year (YoY) to Rs 23,939 crore during the quarter. EBITDA margin stood at 44.4% as on 30 June 2020 as against 41% as on 30 June 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, October 13 2020. 14:07 IST