21.5.14

Vodafone turns profitable in India


Nearly seven years after it set foot in India, British telecom giant Vodafone's operations here have registered a net profit at a time when the company looks at an aggressive expansion.
The company , which entered India in 2007 after buying out the stake of Hutchison Whampoa, said it expected profitability to get stronger in the coming years as data growth remains strong and voice tariffs go up.
Vodafone, the country's second-biggest operator behind Bharti Airtel, said service revenues in the financial year ending March 31, 2014, grew by 13% at Rs.37,606 crore against Rs.33,282 crore in the previous fiscal. The company registered a 3% growth in EBITDA margins, which stood at 32% (Rs.13,399 crore).

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