In a surprising turn of events, BSNL emerged as the big winner in July 2024, adding a massive 29.47 lakh subscribers, while major telecom giants like Airtel, Jio, and Vodafone Idea saw significant losses. This data, released by the Telecom Regulatory Authority of India (TRAI) on September 20, 2024, shows how the recent tariff hikes have shaken the telecom market.
BSNL Surges Ahead, Adding 29 Lakh Subscribers in July 2024, While Airtel, Jio, and Vodafone Idea Suffer Major Losses
Key Highlights:
- BSNL: Gained 29.47 lakh new users, cementing its comeback in the telecom industry.
- Reliance Jio: Lost 7.58 lakh subscribers, a stark contrast to its 19.11 lakh additions in the previous month.
- Airtel: Suffered the biggest hit, losing 16.94 lakh users, compared to its gain of 12.52 lakh in June 2024.
- Vodafone Idea: Continued its downward trend, losing 14.13 lakh users, an increase from its previous month’s loss of 8.60 lakh.
Tariff Hikes Shake the Market
The month of July saw the first tariff hikes in over two and a half years. Jio implemented a 12-25% increase in tariffs starting from July 3, while Airtel and Vodafone Idea followed suit with hikes of 10-21% and 10-23%, respectively. These price hikes seem to have played a pivotal role in the shift in subscriber numbers.
Impact on Telecom Stocks
The market reaction has been swift, with telecom stocks reflecting the shifts in subscriber bases. BSNL’s gains and losses for Jio, Airtel, and Vodafone Idea have investors closely watching the evolving dynamics in India’s competitive telecom sector.
As the dust settles from these price hikes, all eyes will be on how the telecom giants strategize to regain their footing while BSNL continues its resurgence.
