/vnd/media/agency_attachments/bGjnvN2ncYDdhj74yP9p.png)
The Indian and Turkey subsidiary has led to positive revenue growth for Vodafone Group for the quarter ended 31st December, 2011.
India has registered service revenue growth of 20 percent and Turkey has grown by 23.5 percent. Even US associate Verizon wireless has shown service revenue growth of 6.8 percent, driven by strong customer and data revenue growth.
India revenue growth was driven by an increase in the customer base, continued growth in incoming and outgoing voice minutes and 46.4 percent growth in data revenue. As of 31st December, 2011, data customers totalled 31.2 million.
Whilst the market remains highly competitive, the effective rate per minute increased slightly compared to Q2 following the penetration of recent price rises into the customer base. 3G services in India was available 683 towns and cities across 20 circles as on 31st December, 2011.
The company has also shown 21.8 percent growth in terms of data revenue and 0.8 percent on enterprise revenue. Fixed revenue increased by 3.9 percent and represented 8.5 percent of group service revenue. The company now has 8.8 million fixed line customers including 6.4 million fixed broadband customers.
Vodafone Group has registered revenues of £11,618 million for the quarter ended 31st December, 2011, registering service revenue growth 0.9 percent and excluding mobile termination rate cuts the revenue growth is at 3.1 percent.
Commenting on the results Vittorio Colao, Chief Executive, said ''We are continuing to make progress in the key strategic areas of data, enterprise and emerging markets. Despite the further deterioration of the southern European economic environment during the quarter, our broad geographic mix is delivering a resilient overall performance. Our improved value perception, strong cash generation and healthy balance sheet give us confidence that we can continue to execute well.''
The Europe service revenue decreased by 1.7 percent, a 0.5 percentage point deterioration compared to the previous quarter, reflecting increased economic pressures in a number of markets. In Africa, Middle East and Asia Pacific, service revenue grew by 7.6 percent as a result of continued strong momentum in India and Vodacom, driven principally by strong customer growth.
Capital expenditure for the Group was £1.5 billion, 5.2 percent lower than the same quarter last year, mainly as a result of timing differences. Year to date capital expenditure was £4.1 billion, a 3.6 percent increase on the prior financial year, reflecting enhancements to the transmission network in Vodacom and investment in LTE technology in Germany.
Free cash flow of £1.5 billion was £0.4 billion higher year-on-year, primarily due to the timing of tax payments. Cumulative free cash flow was £4.1 billion, some £0.5 billion lower than the prior financial year, reflecting higher working capital and capital expenditure outflows.