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Vodafone India's service revenue up by 5.9% to Rs. 22,579 crore in H1FY17

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Vodafone India's service revenue up by 5.9% to Rs. 22,579 crore in H1FY17

Vodafone India has announced its Half Year results (IFRS) for the six month period ended September 30, 2016.

As per the results, the service revenue stood at Rs 22,579 crores in H1FY17 vs. Rs 21,321 crores in H1FY16 that marks a growth of 5.9 per cent. EBITDA at Rs 6,704 crores has grown by 29.6 per cent versus Rs 6,534 crores in H1FY16. Strong Operating Free Cash Flow (OFCF) grew by 13.2 per cent at 3,307 crores in H1FY17 that was Rs 2,922 crores in H1FY16. The Ongoing capital investments of Rs 3,356 crores in H1FY17; (Capex intensity of 14.8 per cent) driven by significant investments in new site roll-out to deliver superior customer experience and growth in key focus areas.

The company crossed 200 million customers (200.7 million, growth of 6.7 per cent YoY) serviced through a network of ~140,000 total sites, of which 75,854 are 3G/4G sites. Substantial rural presence with a customer base of 106 million in H1FY17 (53 per cent of total customer base).Consistently growing Revenue Market Share (RMS) at 22.5 per cent (Q1FY17). The strategic business areas with Data (Browsing) revenues contributed 20.8 per cent (Q2FY17) and Vodafone Business Services now contributed around 16.4% of Service revenues (both H1FY17).

Data (Browsing) revenue stood at Rs 4,617 crores in H1FY17, 18.8 per cent growth YoY. Data usage and revenue growth led by higher smartphone penetration at 34.5 per cent of total customer base, growth of around 6pp YoY (Sept ’16 exit).

The M-Pesa App with over 1.4 million downloads acting as a key business differentiator, to enable convenient payment of bills and recharging on the move.Engaged with Government bodies and enterprises enabling financial inclusion and e-commerce.M-Pesa pension disbursements in Haryana to retired Government employees. The company associated with Rajasthan Grameen Aaajeevika Vikas Parishad (RGAVP) to empower women in Village Orgn/Self Help Groups.

Vodafone India acquired a total of 365.2 Mhz of spectrum in the auction.Acquired high-capacity, multi-band 4G capability across - 1800, 2100 and 2500 MHz. 4G footprint to be expanded to 2,400 towns and across 8 additional circles by March 2017. 91 per cent of total revenues and 95 per cent of data revenues are covered with 4G spectrum. In the key markets, 75 per cent of data revenues covered with 3 or more LTE carriers.

Sunil Sood, Managing Director and CEO, Vodafone India commented,“Amidst a dynamic environment, we delivered a solid performance. We are well prepared for the increased level of competitive intensity that we are experiencing. We have strengthened our customer value propositions making Vodafone Play, your one window to the world of entertainment, launched exciting 4G offers – 9GB free on purchase of 1GB pack for new 4G handsets and revamped Vodafone RED for high end voice and data users. Further, we pioneered lifestyle propositions such as Vodafone U for young customers and Vodafone Flex, which allows customers to make a single recharge for voice, sms and data. We expanded our 4G footprint to 9 circles by launching services in 4 new circles. With the spectrum bought recently, we will roll out the Vodafone SuperNet 4G experience rapidly to 2400 towns and in 8 additional circles by March. We continue to invest to expand our modern and scalable network with a strong backhaul, to support the increasing volumes and need for speed from both retail and enterprise customers. We remain committed to fulfill the evolving needs of our customers and leverage our global experience plus rich understanding of India to play a meaningful role in enabling Digital India.”

Tags Vodafone India Half Year FY17 results

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