Vodafone's Q3 revenue up 16 per cent | business | Hindustan Times
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Vodafone's Q3 revenue up 16 per cent

business Updated: Jan 31, 2008 15:37 IST

World's largest mobile operator by sales Vodafone Group Plc has posted a 15.8 per cent rise in revenues for third quarter of the current fiscal, boosted by a strong performance in emerging markets including India.

The group earned revenues of 9.2 billion pounds in the quarter, it said in a filing to the London Stock Exchange.

In India, the group recorded a 56 per cent growth in revenues -- highest among emerging markets -- for the quarter ended December, following the acquisition of a majority stake in the country's mobile phone operator Hutchison Essar last year.

The growth in these markets were primarily driven by the addition of higher number of customers. India accounted for most of the increase, with Vodafone Essar adding 4.2 million customers during the quarter, a 71 per cent jump year on year.

Vodafone Essar had a total customer base of 39.9 million, making it the largest operator by customers within the Vodafone Group, the filing added.

In May last year, Vodafone had acquired a 52 per cent stake in India's Hutchison Essar Ltd for about 11 billion dollars.

Among the emerging markets, India posted the highest growth of 56 per cent in revenue (assuming the group owned the business for whole of both quarters), followed by Egypt (30.7 per cent), Kenya (30.1 per cent) and Turkey (26 per cent).

"We have sustained our recent momentum in the third quarter, executing on our strategic objectives in competitive markets, with over 250 million proportionate customers driving strong growth in voice usage and data revenue," the group said.