Vodafone Group Claims Increase of 3.5% in Its Revenue

Vodafone Group Claims Increase of 3.5% in Its RevenueOn Friday, the British telecom major, Vodafone group, has announced that its Indian arm has managed to make a significant 9% growth in revenue at 1.03 billion pounds, during the first quarter ended June 30, 2011 and claimed that a 30% increase in customer base, stabilizing mobile voice pricing in the market and a 70% growth in data revenue has contributed enough to boost the increase.

The group has reported an increase of 3.5% in revenue at 11.65 billion pounds for the same financial year whereas for the fiscal year ended March 2011, its Indian arm attributed operating profit of 15 million pounds.

The company said that the growth had a strong influence from increase in sales of data-enabled handsets along with the continued successful marketing campaigns run in conjunction with the sponsorship of key sporting events.

“In respect of the Indian tax authority alleging potential liability of Vodafone International for failure to deduct Indian withholding taxes on the Hutchison transaction in 2007, the Supreme Court of India is expected to hear its appeal on the issue of jurisdiction as well as on the challenge to qualification, in the third calendar quarter of 2011”, commented Vodafone.

It’s Chief Executive Officer, Vittorio Colao, claimed that in India, service revenues grew by 17% because of a 30% increase in the customer base.