Vi loses 680,000 subscribers in March, its fewest in seven months
Vodafone Idea trimmed its subscriber losses to 0.68 million in March, the lowest since last August and the second-lowest since March 2023, according to data from the telecom regulator. The third-largest telco by subscribers had 219.8 million users in March. Second-placed Bharti Airtel gained 1.75 million customers in the month, taking its total to 385.7 million.
Reliance Jio, the country’s largest carrier, gained 2.14 million users in March, taking its subscriber base to 469.7 million. Vodafone Idea lost 16.25 million subscribers in the first 11 months of FY24, including more than a million subscribers every month from November 2023 to February 2024, according to data from the Teleom Regulatory Authority of India (Trai). Losing few subscribers is a positive indicator for the company following its ₹18,000 crore fundraise from a follow-on offer last month, the largest ever by an Indian firm.
Halting the decline of its subscriber base is crucial for the loss-making carrier, which will begin investing in 4G networks to improve connectivity for existing users and launching 5G services to attract new customers, said analysts. Also read: Dial Vi for revival: Its FPO was a success “In the past 12-24 months, VIL was consistently losing 2,000-5,000 net subscribers per quarter and its competitors were gaining market share. Going ahead, assuming VIL raises intended capital, we expect its network coverage to potentially improve.
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