Vodafone India rings in 368% jump in annual adjusted operating profit
22 May 2013 6:20 PM GMT
Vodafone India, the country's second largest mobile operator, on Tuesday said that its adjusted operating profits rose by more than three-fold to £221 million (Rs 1,853 crore) for the year ended 31 March, 2013.
The company, part of the UK-based Vodafone Group, had posted an adjusted operating profit of £60 million (about Rs 503 crore) in the year-ago period, it said in a release.
Vodafone India revenues also rose by 1.17 per cent to £4.32 billion (about Rs 361.9 billion) from GBP 4.27 billion (about Rs 357.7 billion) during the same period.
Its free cash flow for year ended March 31, 2013 rose to £729 million from £531 million in the year-ago period. On India results, Vodafone said: 'Service revenue grew by 10.7 per cent driven by strong growth in mobile voice minutes and data revenue, partially offset by the impact of regulatory changes.'
Average customer growth slowed in Q4, as Q3 regulatory changes affecting subscriber verification continued to impact gross additions. However customer acquisition costs remained low, it added.
'For the year as a whole, growth was negatively impacted by the introduction of new consumer protection regulations on the charging of access fees and the marketing of integrated tariffs and value-added services,' it said.
The company, part of the UK-based Vodafone Group, had posted an adjusted operating profit of £60 million (about Rs 503 crore) in the year-ago period, it said in a release.
Vodafone India revenues also rose by 1.17 per cent to £4.32 billion (about Rs 361.9 billion) from GBP 4.27 billion (about Rs 357.7 billion) during the same period.
Its free cash flow for year ended March 31, 2013 rose to £729 million from £531 million in the year-ago period. On India results, Vodafone said: 'Service revenue grew by 10.7 per cent driven by strong growth in mobile voice minutes and data revenue, partially offset by the impact of regulatory changes.'
Average customer growth slowed in Q4, as Q3 regulatory changes affecting subscriber verification continued to impact gross additions. However customer acquisition costs remained low, it added.
'For the year as a whole, growth was negatively impacted by the introduction of new consumer protection regulations on the charging of access fees and the marketing of integrated tariffs and value-added services,' it said.
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