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Journalism of Courage
Vodafone Essar,the second largest telecom operator (by revenues) in India,reported service revenue of £899 million (about Rs 6,442.6 crore) in the second quarter of the financial year 2010-11,up 27.6 per cent from £704 million (Rs 5045.2 crore) in same quarter last year. However,sequentially,revenues were down 5.7 per cent against £954 million (Rs 6,836.8 crore) in June quarter of FY10-11.
The company reported an adjusted operating profit of £6 million (Rs 42.9 crore) in the first half of the financial year 2010-11 against an operating loss of £43 million (Rs 308.1 crore) in first half of the financial year 2009-10. India-service revenue grew by 14.7 per cent including a 2.3 per cent point benefit from Indus Towers,the Groups network sharing joint venture. Growth was driven by a 42.7 per cent increase in the average mobile customer base and strong usage per customer partially offset by a fall in the effective rate per minute due to an increase in penetration of lower priced tariffs into the customer base, it said in a press release.
