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Vodafone FY14 service revenues up 13%; EBITDA up at Rs 133,986 mn

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Vodafone FY14 service revenues up 13%; EBITDA up at Rs 133,986 mn

Vodafone India has reported consistent and strong revenue growth for the financial year ended March 31, 2014. The telecommunication service provider has garnered service revenue of Rs 376,060 million in FY14, as against Rs 332,818 million in FY13, a growth of 13.0 per cent.

The revenue performance was driven by customer additions, price hardening and strong growth in data revenues.

EBITDA at Rs 133,986 million in FY14, as compared to Rs 106,406 million in FY13, has seen a significant margin improvement of  3.1 ppt from 28.7 per cent to 31.8 per cent.

Vodafone has also reported healthy Operating Free Cash Flow (OFCF) at Rs 84,664 million in FY14, as compared to Rs 62,941 million in FY13, an increase of 34.5 per cent, even after Rs 22,793 million incremental capex.

Vodafone India is now 100 per cent entity of Vodafone Group Plc.

Commenting on the company’s financial performance, Marten Pieters, Managing Director & CEO, Vodafone India said, “We continue to show healthy double digit revenue growth driven by price hardening measures, robust growth in data and a rising base of quality subscribers. Maintaining our focus on profitable growth has led to significant improvement in operating margins and strong cash flows. With the nationwide rollout of M - Pesa, our thrust on leveraging mobile technology to drive financial inclusion has also gathered momentum. The integration of Cable & Wireless with Vodafone Business Services enriches our portfolio as a total telecom solutions provider for corporate and enterprise customers. We will continue to further accelerate our investments in all these areas.”

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