Vodafone India Q1 revenue up 9% to 1.03 bn pounds

UK-based Vodafone Group today said its Indian unit Vodafone India reported a growth of nearly 9% in revenue to 1.03 billion pounds during the first quarter ended June 30, 2011, driven by an increase in its customer base.

The company had registered a revenue of 954 million pounds during the April-June quarter of 2010, Vodafone Group said in a statement.
Vodafone Group today reported a growth of 3.5% in revenue to 11.65 billion pounds for the April-June period of 2011.
Service revenue in India grew by 16.8%, driven by a 29.8% increase in Vodafone's customer base, stabilisation of mobile voice pricing in the market and 70.4% growth in data revenue.
As of June 30, 2011, Vodafone had 26 million data customers, a year-on-year increase of 189%. The growth was driven by an increase in sales of data-enabled handsets and the continued impact of successful marketing campaigns run in conjunction with the sponsorship of key sporting events.
Whilst competition in the market remains high, the effective rate per minute is stabilising as a result of a focus on promotional offers rather than further ongoing price reductions, the company said.
On July 1, 2011, Essar Communications (Mauritius) Limited (ECML) and ETHL Communications Holdings Limited (ECHL) agreed the terms under which ECML and ECHL will sell their direct and indirect shareholdings in Vodafone Essar Limited (VEL) to Vodafone UK.
Under the terms of the agreements, ECML's wholly owned subsidiaries Essar Communications Limited (ECL) and Essar Com Limited (ECom) have sold their entire 22% shareholding in VEL to Vodafone UK and ECHL will also dispose of its 11% shareholding in VEL.
Further, the parties have agreed that all outstanding claims between them are terminated and that all future claims have been renounced. The parties have also agreed to cooperate fully in seeking all regulatory approvals necessary for the completion of these transactions.
Following the launch of commercial 3G services in February, 2011, 3G was available to Vodafone customers in 147 towns and cities across 12 circles as of June 30, 2011.