Vodafone India reports Half-Year FY14 Results

Vodafone India has announced its Half Year IFRS results for the six months period ending September 30, 2013.

The key financial highlights of these results reveal that Vodafone India has achieved service revenue of INR184,809 million in H1FY14 vs. INR162,826 million in H1FY13, showing a growth of 13.5%. EBITDA margin has reached INR65,191 million in H1FY 14 as compared to  INR49,930 million in H1FY13, whereas the healthy operating Free Cash Flow (OFCF) at INR47,706 million in H1FY14 which was INR33,779million in H1FY13. This OFCF has, thus, shown a growth of 41.2%.

In this financial year, the revenue market share has gone up by 0.9% YoY with 21.9% in Q1 FY14. The company has undergone a strong rural presence with customer base of 83.2 million in September 2013 which was over 50% of total sub-base.

Moreover, it has been revealed that Vodafone Business Services currently contributes to around 10% of Vodafone India service revenues with over 4.5 million customers. 

Martin Pieters, Managing Director & CEO, Vodafone India, commented, We continue to show a healthy revenue growth driven by price hardening, an exponential growth in data and a solid subscriber base. Our focus on profitable growth has led to a strong margin improvement and to a strong operating free cash flow. We will continue to invest in our future growth areas of democratizing data and driving financial inclusion through M- Pesa.

In Q1 FY14, the data usage and revenue growth was led by increasing smartphone penetration at 10.7% of total base.