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Vodafone’s India profits up 14%

British telecom giant Vodafone Group on Tuesday posted 14 per cent growth in operating earnings from India’s business to 1.12 billion pounds (about Rs 9,749 crore) for 2011-12 helped by rising customer base and strong growth in voice-call minutes.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) - which excludes one-time effects, for the financial year ended 31 March rose to 1.12 billion pounds, from 985 million pounds in 2010-11, Vodafone said in a statement.

The Group’s revenue from Indian operations surged to 4.26 billion pounds in 2011-12, from 3.85 billion pounds in the previous fiscal.

The telecom entity attributed the robust earnings from India’s operations to service revenue as well as higher customer base. The growth also came from mobile operators starting to charge for SMS termination during the second quarter of the 2012 financial year.

'Service revenue grew by 19.5 per cent, driven by an 11.8 per cent increase in the customer base, strong growth in incoming and outgoing voice minutes and 51.3 per cent growth in data revenue,’ Vodafone said.

Although the market remains highly competitive, the effective rate per minute remained broadly stable during the year, it added.

'In India, pricing showed clear signs of stabilisation after a prolonged price war,’ Vodafone said.
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