11:07 am - Saturday 29 April 2017

Vodafone India grows by 10 percent in Q3

By insightVAS - Thu Feb 07, 6:10 pm

Vodafone India has recorded a revenue growth of 10 percent to 1.1 billion pound (about Rs 9,388.40 crore) in the quarter ended December 31, 2012. It is due to the strong growth in voice minutes.

In the corresponding quarter of last year, Vodafone India reported a revenue of 1.02 billion pound.

Service revenue increased by 9.9 per cent, driven by strong growth in mobile voice minutes and a stable competitive environment, it added.

Vodafone had a subscriber base of 147.47 million in India till December 31, 2012.

The company said, ”As on December 31, 2012, active data customers totalled 33.1 million, including 2.5 million 3G subscribers.” Due to the increase in sale of data bundles and an increase in 2G data pricing, the data revenue grew by 23.8 percent.

The voice revenue for Vodafone India stood at 785 million pound while data revenue was 94 million pound.

However, Vodafone’s global revenue was down 2 per cent at 11.38 billion pound impacted by difficult market conditions in Europe, especially southern parts of the continent.

Our results continue to reflect very difficult market conditions in Europe. We are addressing this through firm actions on cost efficiency, and continuing to invest in areas of growth potential,” Vodafone Chief Executive Vittorio Colao said.

Vodafone continues to make progress in its 2015 strategy, with good revenue growth in data and emerging markets, the launch of LTE services in another four markets and the acquisition of new spectrum, he added.

In November, the company acquired spectrum in 1800 MHz band in 14 Indian telecom circles for Rs 1,130 crore.

The company said Indian tax authority issued a reminder regarding Rs 11,200 crore tax liability issue related to the British firm’s acquisition of Indian telecom assets of  Hutch Whampoa.

The group maintains its position…but is engaged in dialogue with the Indian government to explore whether a solution to this matter can be found,” added Vodafone.

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