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RCOM lost 3.1M mobile Internet subscribers in Q3FY17; net loss of Rs 531Cr

Anil Ambani-led Reliance Communications (RCOM) lost 3.1 million mobile Internet subscribers during the quarter ended December 2016 (Q3-FY17): the company reported 32 million mobile Internet connections for the quarter, down 8.8% Quarter-on-Quarter (QoQ) from 35.1 million connections in Q2-FY17

In the previous quarter, RCOM lost 3.8 million data connections due to the company’s migration from CDMA to 4G, and due to the launch of Reliance Jio. However, the telco has lost more subscribers during this quarter, after Jio extended its free services till March 2017. Note that RCOM also lost 3.7 million customers during Q1FY17, when it started the 4G switch. RCOM has not provided information about total subscriber base in its press release; we will update the story when the company releases its quarterly report for Q3FY17. Currently, the telco has a total subscriber base of 87.7 million, down from 88.3 million in the same quarter last year

3G+4G connections vs 2G connections

The company’s mobile broadband (3G + 4G) connections stood at 23.4 million this quarter, down 4.4% QoQ from 24.5 million mobile broadband connections in the previous quarter. Mobile broadband base accounted for 73% of all data connections during the quarter. RCOM had 8.6 million 2G connections in this quarter, down from 10.6 million in the previous quarter. Its 3G mobile Internet base had surpassed 2G in Q1FY16.

Decrease in Data usage

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Total mobile data traffic generated on RCOM’s network was 93.7 billion MB during the quarter, down 10% QoQ from 104.8 billion MB in the previous quarter. The telco mentioned that data usage “decreased mainly due to severe competitive intensity.”
-Average revenue per user (ARPU) was Rs 154 in Q3FY17, down from Rs 155 in the previous quarter.
-Revenue Per Minute (RPU) also decreased 10.5% QoQ to 40 paise during Q3FY17.
-Data usage per customer decreased marginally to 931 MB from 944 MB per data customer in the preceding quarter.

Voice revenue decline by 32% YoY

– The company reported voice revenues of Rs 3,300.1 crore during Q3FY17, down 4.9% from Rs 2791.2 crore in the previous quarter, and down 32.7% from Rs 5,486.1 crore voice revenues in the same quarter last year.
– RCOM reported non-voice revenues of Rs 1,257.2 crore for Q3 FY17, up 1.2% quarter-on-quarter from 1572.5 crore in Q2FY17.

Financials

– The company suffered a net loss of Rs 531 crore during the quarter. In the previous quarter, it reported a net profit of Rs 38.8 crore.
– Total consolidated revenue stood at Rs 4,992 crore for this quarter, down 4.3% from Rs 5,142 crore in Q2FY17.
– India operations revenues were at Rs 4,267 crore during this quarter, down 4.9% from Rs 4,488 crore in the preceding quarter.
– Overall EBITDA stood at Rs 1,206 crore for Q2FY17, down 21.8% from Rs 1,542 crore in Q2FY17.

Download: Press Release | Financials | Quarterly Report

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