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Vodafone India reports service revenues of £1.08 billion for the quarter ended September 2015

November 13, 2015
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Vodafone India has reported a marginal increase in its revenues, from £1.02 billion for the quarter ended September 2014 to £1.08 billion for the quarter ended September 2015. According to the company the low growth rate was on account of a number of regulatory changes, including mobile termination rate cuts, roaming price caps and an increase in service tax that offset the growth witnessed in data demand.

In terms of the half yearly results, the company’s adjusted operating profits grew by 18.7 per cent, from £197 million for the half year ended September 2014 to £234 million for the half year ended September 2015. This was despite a growth in capital expenditure from £348 million to £364 million, during the same period.

According to the company, its voice revenues were affected by a cut in roaming rates, and dropped by 10 per cent, from Re 0.37 per minute for the quarter ended September 2014 to Re 0.33 per minute for the quarter ended September 2015. Meanwhile, the revenue from data services grew by 55.9 per cent, year on year, during the first half of 2015-16 to Rs 39.79 billion and contributed to 15 per cent of total services revenue. The company has also stated that is has started preparations for an initial public offering.

Vodafone’s mobile wallet business m-Pesa had 665,000 active customers as of September 2015.

 
 
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