Vodafone India posts 19.5 percent hike in service revenue

Vodafone India Tuesday posted a 19.5 percent increase in service revenue at Rs.3,21,184 million during the financial year ended March 31, but said its initial public offering (IPO) may not happen this year. The firm had posted Rs.2,69,366 million service revenue during the previous financial year. Its ebitda (earnings before interest, taxes, depreciation and amortization) was at Rs.85,493 million, up 21.6 percent against Rs.70,301 crore in the previous fiscal.
“We have had a really good year with very strong operational performance, continued revenue market share growth and an improvement in margins,” said Marten Pieters, managing director and chief executive officer, Vodafone India.
Vodafone India reported an average revenue per user of Rs.180 in the January-March quarter. The operator also crossed 150 million subscribers base while its net port in through mobile number portability stood at around 1.7 million as on March 31, 2012.
About the IPO, the firm said it might not be in a position to launch it if the government accepts the recommendations of the Telecom Regulatory Authority of India (TRAI) on spectrum auction.
“It is highly unlikely that we are able to do an IPO in the middle of so many spectrum auctions. It depends on what the final decision on auction of spectrum will be,” Pieters told reporters.