Vodafone India H1 service revenue up 13.5 percent to $3.25 billion

Vodafone India service revenue increased 13.5 percent to $3.25 billion (£2,038 million) in the first half of fiscal 2014.

Its total revenue increased to £2,257 million in H1 of FY 2014 from £2,038 million in H1 of FY 2013.

Vodafone India EBITDA increased to £718 million from £577 million.

The telecom service provider, which competes with Airtel, Idea Cellular, etc. on Tuesday said the service revenue increase was driven by strong growth in mobile voice minutes, a higher rate per minute and increased mobile internet usage. Customer additions benefited from a number of operators reducing their presence during the previous year.

Data usage grew 125 percent, primarily due to a 33 percent increase in mobile internet users and a 71 percent increase in usage per customer.

At 30 September 2013 active data customers totalled 42.5 million, including approximately 4.5 million 3G subscribers, and M-Pesa was available in eight telecom circles in India.

Vodafone India service revenue up 13.5 percent to $3.25 billion in H1

EBITDA grew by 30.9 percent, with a 4.4 percentage point increase in EBITDA margin, driven by the higher revenue, operating cost efficiencies, and lower direct costs.

Meanwhile, Vodafone global has reported a half-year pre-tax profit of £1.5 billion ($2.4 billion) as it said trading in Europe remained very tough at present.

Vodafone group service revenue decreased 4.2 percent to £20 billion in the first half.

Vodafone CEO Vittorio Colao said he had seen intense macroeconomic, regulatory and competitive pressures during the period there. But he was encouraged by forecasts that Europe would return to growth. He said he hoped for a shift in regulation to support industry investment and consolidation.

Colao said mature markets were challenging, but focusing on cost efficiency was helping. He said the emerging markets businesses were doing well thanks to the smartphone.

editor@telecomlead.com

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