How do telecom subscription numbers look?

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How do telecom subscription numbers look?

Telecom subscription numbers for Reliance Communications, Bharti and MTNL are out. CNBC-TV18 reports on how do these numbers stack up.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » RELATED NEWS DSP ML sees Reliance Comm’s Jul-Sep net at Rs 615.4cr ALSO READ See latest News about Bharti Telecom See previous management interviews See what other Experts & Brokerages are saying about Bharti Telecom Bharti Telecom BSE | NSE 01/01/70 Are Mutual Funds betting on Bharti Telecom? Other Stocks in this news Mahanagar Telephone Nigam | Bharat Sanchar Nigam | Hutch | Reliance Communications |

But if one looks at the lower level of who has done better, BSNL's performance for last month would stand out because last time BSNL added a record number of 1 million subscribers, this time it is just 87,000. So BSNL is again down.

The other player would be Hutch , which has been more or less in decline because it has 97,000 subscribers compared to 98,000 subscribers. So this is again down. But it is Idea, which has been kicking over the past three months because they have been aggressively expanding; their additions are also very smart this time.

This means that one is going to look at good numbers from Bharti and Reliance. If one stacks up these two in this quarter, Reliance may show a better performance than Bharti because one is expecting a 17% QoQ growth on a net profit level from Reliance, largely because it is a low base effect. Second, its non-wireless business has done better and EBITDA margins have jumped over there. So Reliance will stand out.

In this entire race to maintain its leadership position and record subscribers, Bharti may just have let loose of its ARPU. Last quarter their ARPUs were very flat, very stable which almost surprised all analysts. But this time everybody is expecting a decline anywhere between a 2-3% in ARPU.

Reliance Communication would follow suit as what Bharti has done.