Vodafone posts nearly 14% rise in service revenue

Vodafone posts nearly 14% rise in service revenueVodafone India, The Indian ram of British telecommunications giant, enjoyed a year-on-year increase of nearly 14 per cent in service revenue in the first quarter of current fiscal, thanks to strong growth in mobile voice minutes.

The company on Friday announced that its service revenue increase 13.8 per cent year-on-year to Rs 9,917.53 crore in the April to June quarter. Service revenue stands for revenue from total voice and data sales minus revenue from fixed-line.

Vodafone India's subscriber-based increased by 2.7 million during the three months under review, while data usage jumped 29 per cent quarter-on-quarter.

As on June 30, Vodafone had 41.2 million active data customers, of which nearly 3.7 million were 3G subscribers. At the end of March quarter, the company had 3.3 million 3G customers.

While the Indian arm reported an impressive increase in revenue, the British parent company suffered a decline of 3.5 per cent in overall revenue due to slowdown in its European business.

Vodafone Plc chief executive officer Vittorio Colao announced that the company would reduce its dependence on lagging European markets and make more investments in higher-growth nations like India, South Africa and the U. S.