Vodafone Group Plc has announced its financial results for the year ended March 2011. In India, service revenue grew by 16.2 per cent, including a 1.7 percentage point benefit from Indus Towers, the group?s network sharing joint venture. Growth was driven by a 39.0 per cent increase in the average mobile customer base and stable usage per customer trends, partially offset by a fall in the effective rate per minute due to an increase in the penetration of lower priced tariffs into the customer base and strong competition in the market.
February 2011 saw the launch of commercial 3G services following the purchase of 3G spectrum in May 2010 and subsequent network build. By the end of the year 1.5 million customers had activated their 3G access.
EBITDA grew by 15.1 per cent, driven by the increase in the customer base and economies of scale, which absorbed pricing and cost pressures.
