RIL’s Reliance Jio Infocomm Limited acquired 31.1 lakh subscribers in May ahead of the 5G auction which is set to start on July 26. The company added the most subscribers for the second month in a row.
According to telecom subscriber data, Bharti Airtel had 10.27 lakh subscribers as of May 31, while Vodafone Idea lost 7.59 lakh subscribers in the same month.
Reliance Jio Infocomm Ltd lost 3.2 million subscribers in the last three quarters of the last financial year.
The subscriber addition comes ahead of Reliance’s quarterly results due on Friday and should bode well for the conglomerate’s first quarter report.
This quarter, sector watchers estimated that Jio would add 4.6 million subscribers, but the telecom giant has already added 4.8 million subscribers.
Overall, the telecom industry saw its third consecutive month of subscriber additions. The network saw subscriber erosion from December 2021 to February 2022 after a 20 percent increase in tariffs.
EMD is a bona fide payment made by telecom operators to the government. This indicates the number of airwaves the company will offer for auction.
(Edited by: Abhishek Jha)