Vodafone has reported a 23.59% increase in India Service revenues at GBP 3804 million for the full year ending 31st March 2011 (FY11), up from GBP 3069 million reported the previous fiscal year (FY10). The data (both data access and mobile value added services) and messaging (SMS) revenues combined contributed a combined 10.99% to total service revenues, compared to 9.03% the year before. But the real story is in the quarterly figures, where for the last quarter (Q4-FY11), the contribution of data and messaging was 11.84%. Quarter on quarter, the contribution percentage is on an upward slope, though it's worth pointing out that messaging revenue declined 4.26% QoQ. Data's been on an upwards slope, and on the conference call, Vodafone exec's didn't go into details of the impact of 3G deployment in India. On its a conference call, Vodafone execs said that for the company, at a global level, the growth in data revenues surpassed the decline in voice revenues. Data is 80% of Vodafone's traffic in Europe, and the company is investing in "video management" to reduce volumes by 15-30%, as well as offload traffic to WiFi. In India, it appears from the chart above, the growth in data revenues in Q4 surpassed the decline in messaging. However, there is no consistent decline in messaging revenues so far, but we'll keep an eye out for it in the following quarters, to check whether there is a switch. Financials Vodafone reported an EBITDA of GBP 985 million for the full…
