Telcos to report subdued Q1 on pandemic woes

Subdued smartphone sales due to Covid-19-led lockdowns, moderation in new subscriber additions and free recharges rolled out by companies for low-end customers are expected to keep the performance of Indian telecom operators muted for the first quarter ended June 30, 2021.

“We expect 1QFY22 to be impacted by the second wave of Covid-19, which would moderate the pace of customer acquisition,” analysts at Credit Suisse said in a note.