Vodafone, in its concall discussing the Q2 results, said that it has not made provisions for a settlement in the tax case in India. It also blamed the regulatory changes for the lower rate of growth in service revenues. It's also banking on data for revenue growth. Some notes: - No provision made for Indian tax case: Andrew N Halford, Chief Financial Officer, Executive Director and Member of Executive Committee, informed that the company has decided that it will not make any provision for settlement with regards to the tax case in India. He said, "Of note, we have looked very, very carefully at the situation in India with our tax case over there. And we have concluded that we will continue not to make any provision for that settlement." - Slightly lower rates of volume: Vodafone said that the company witnessed slightly lower rates of volume in India, because of some regulatory constraints. - The Service revenue growth was 11% at lower levels than the company recorded previously due to lower customer growth generally in the market and some regulatory controls that were applied during the period, said the company. However, ARPUs were up by 3%. Drop in minutes was due to subscribers and seasonality factors. - Vodafone witnessed a 3-percentage point improvement in the margin in the Indian business. It said that the reason for the growth was partly about scale and partly about lower relative A&R. - It also launched m-Pesa with ICICI Bank. "we will continue,…
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