Data traffic on RCom's network increased 16% Q/Q and 83% Y/Y. The weak non-voice revenue growth despite high data growth points to meaningful decline in data realizations. Interestingly, RCom?s non-voice India revenues of INR 11.6 billion is lower than Idea's data revenues of INR12.6 billion despite the fact that total data traffic on Idea's network is about 46.1 billion MB, which is just 60% of total data traffic on RCom's network (about 76.4 billion MB).
RCom's India non-voice revenues of INR11.6 billion is half of Airtel?s India data revenues of INR21.4 billion. However, total data traffic of 77.3 billion MB on Airtel's Network is almost equal to RCom's data traffic of 76.4 billion MB. Even assuming that all non-voice revenues are from data, it suggests that RCom's realized rates (on data) are at significant discount to the other large players.
