For the quarter ended June 30th 2009, Vodafone India has reported an increase 23 percent in revenue at constant exchange rates, and 33 percent, taking into account exchange rate fluctuations. The revenues included a 7 percent benefit of revenue from their stake in Indus Towers. Data revenues for Vodafone remained flat quarter on quarter, but were up 30 percent year on year. Strangely enough, messaging (SMS) revenues declined quarter on quarter.
Looking at trends for the last couple of years, data revenues appear to be lop sided, with Q4 registering data revenues significantly higher than other quarters. We’ve written to Vodafone for more color on how they account data revenues.
ARPU & Minutes Of Use
However, much like Bharti Airtel and Idea Cellular, Vodafone India reported a decline in ARPU, impacted by the mobile termination rate cut.
In terms of Minutes of Use, Vodafone clocked 10% higher minutes of use, at 71,775 million minutes, up from 65,276 million minutes used in Q4-09.
Of its total customer base, 93.2 percent was Pre-paid. The companys average customer base grew by 56 percent year on year, on launching in seven new circles.
Net additions for the company declined quarter on quarter – Vodafone India added 7.68 million subscribers in the quarter, as opposed to 7.83 million subscribers added in the previous quarter.
Much like other operators, Vodafone India has suggested that usage per customer declined on account of multiple SIM usage, which is being attributed to the free minutes and free SIM cards being given by operators, particularly in new circles.
Vodafone reports churn on an annualized basis, and the company saw a pre-paid churn of 26.3 percent churn for the last four quarters, with a Pre-paid churn of 26.4 percent, and a post-paid churn of 25.3 percent.