Vodafone quarterly revenue jumps 19%

Font Size

Print

Feedback

Email

Discuss

Save & Share Article

What’s this?

Digg	My Yahoo	Fark
del.icio.us	Newsvine	Reddit

Rate This Article

Rating:  0

British telecom giant Vodafone on Tuesday posted a 19.1 per cent jump in revenues at 9.8 billion pounds for the quarter ended June 30, propelled by strong growth in India and Europe, among other regions.

During the three months ended June, the company added 8.5 million subscribers across the world and the total stood at 269 million.

The firm registered more than 50 per cent total revenue growth in India.

However, Vodafone’s India-born chief executive Arun Sarin who will stepping down later this month said the company faced a more challenging environment.

“Notwithstanding this more challenging operating environment, we continue to benefit from a diversity of assets and services, with strong revenue growth in EMAPA (Eastern Europe, Middle East, Africa & Asia, Pacific) and another good quarter of data revenue growth offsetting weakness in Spain.

Whilst we expect revenue around the bottom of the outlook range, our continued focus on cost reduction enables us to reiterate our operating profit and cash flow guidance for the year,” Sarin said in a statement.

In the June quarter, India accounted for most of the increase in subscribers in the EMAPA region which saw the addition of 7.8 million new customers.