Bharti Airtel, Vodafone Idea to see slower revenue growth in Q1: ICICI

Bharti Airtel and Vodafone Idea (VIL) are likely to see slower revenue growth for Q1FY23 because of fewer 4G subscriber additions due to the lower smartphone sales, a decline in overall user base and negligible benefit of December tariff hikes, a report by ICICI Securities said.

Reliance Jio, however, is expected to add 5 million subscribers during Q1 after reporting a decline for the past three quarters. The telco will also benefit from the hikes because it has a higher proportion of long validity recharge users. “Mobile revenue growth for Bharti is estimated at 1.6% quarter-on-quarter (q-o-q), while VIL’s will grow only 0.6% and RJio’s revenue will be up 3.3%,” ICICI said.