According to Axis Capital, revenues of telecom operators will most likely improve sequentially in September quarter, owing to factors like increased recharges, reverse migration, and easing of lockdown curbs.
As per Axis Capital, among all operators, Reliance Jio will benefit from higher subscriber addition and per user realisation improvement owing to addition of higher ARPU Jio fibre customers.
Meanwhile, Bharti Airtel’s home broadband segment is expected to see a continued uptick. This has been driven by the COVID-19 induced lockdown, adoption of work- from-home practices and Airtel’s partnership with local cable operators.
As for the infrastructure providers, a gradual sequential recovery is expected.
Further, the report also remarked that in a seasonally weak quarter, wireless revenue will inch up sequentially driven by the reverse migration, better gross additions and data subscriber additions.