Vodafone - India

Vodafone India revenues jump 50%

British telecom giant Vodafone on Tuesday announced a 14.1 per cent jump in the group's revenues to 35.5 billion pounds with its India business delivering a strong growth of over 50 per cent during the year ended March 31.

The group posted an increase of 14.1 per cent in the revenues with an organic growth of 4.2 per cent in the year ended March 31, 2008, a company statement said.

Vodafone Group's adjusted operating profit increased 5.7 per cent to 10.1 billion pounds, while its earnings before interest, tax, depreciation and amortisation (EBITDA) grew 10.2 per cent to 13.2 billion pounds in 2007-08.

Vodafone has over 260 million proportionate mobile customers worldwide with strong growth during the year in the Eastern Europe, the Middle East, Africa, Asia and the Pacific (EMAPA) region.

In particular, in Vodafone's new business in India, which has been successfully integrated into the group and now has over 44 million customers, with over 50 per cent pro forma revenue growth.

"Our existing emerging market assets continue to perform well. Vodafone Essar in India is delivering very strong growth and performing in line with our acquisition plan. Revenues increased by 50 per cent during the year driven by rapid expansion of the customer base with an average of 1.5 million net additions per month since acquisition," Vodafone CEO Arun Sarin said in a statement.

We have also established an independent tower company with two other operators to drive further strong, cost efficient growth, Sarin added.