The onset of 5G price wars along with a lack of significant tariff hikes and limited support from 4G tariff interventions, could slow Bharti Airtel's average revenue per user (ARPU) growth. The next issue for Airtel is its ARPU growth which could potentially come from losing subscriber market share, considering its lower capex for the quarter. Airtel’s India mobile capex spending was at Rs 5,685.6 crore, down 27.4% from Rs 7,829 crore in the June quarter.
