Shares of Vodafone Idea were under pressure on Thursday as the latest subscriber figures from the telecom regulator showed that the troubled telco continued to lose subscribers while its rivals consolidated market share.

What Happened: Reliance Jio continued to outpace its nearest rival, Bharti Airtel, in adding mobile phone users in May, while Vodafone Idea (Vi) lost further ground, according to data from the Telecom Regulatory Authority of India (TRAI).

Jio’s subscriber base jumped 0.46% month-on-month or 22 lakh users, while Airtel’s subscribers grew 0.32% or 12.5 lakh users. Vodafone Idea lost 9.24 lakh users in May, falling 0.42%, marking its largest fall in three months.

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Airtel recorded the highest percentage of active subscribers on its network at 99.07%, with its active user base increasing marginally to 38.8 crore in May from 38.7 crore in April. Jio's active user base decreased slightly to 47.2 crore from 47.5 crore, while Vi's active user base shrank from 21.9 crore to 21.8 crore.

In the wireless category, Jio expanded its customer market share to 40.60% with 47.5 crore subscribers, while Airtel’s share rose to 33.17% with a total of 38.8 crore subscribers. Vi’s share narrowed to 18.66% with 21.8 crore users, remaining constant over the previous month.

Price Action: Vodafone’s share price was down 4.6% at ₹16.02 in morning trade on Thursday. The stock is down 5.76% so far this year.

Airtel’s shares also dipped 0.37% to ₹1,461.10 during the session. The stock has gained over 44% so far this year.

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