Even with a 11.6 per cent drop in net profit, global telecom giant Vodafone
is upbeat and has increased its annual forecast on the back of strong growth in emerging markets like India.Revenues from India
stood at 2.11 billion pounds for the six months ended September 2011 as compared to 1.87 billion pounds in the same period last year.
"Service revenue in India grew by 18.4 per cent, driven by a 25.5 per cent increase in the customer base, strong growth in incoming and outgoing voice minutes and 66.1 per cent growth in data revenue," Vodafone said in a statement.
Growth also benefitted from operators starting to charge for SMS termination in Q2, it added.
Overall, Vodafone Group reported 11.6 per cent drop in net profit to 6.6 billion pounds for the six months ended September 30, 2011 as against 7.5 billion pounds during the same period last year.
The group revenue was, however, up 4.05 per cent in H1 2011 to 23.52 billion pounds, helped by growth in emerging markets.
Vodafone has also upped its annual guidance on the back of the strong performance in these markets. From a guidance of 11 billion pounds to 11.8 billion pounds indicated earlier this year, Vodafone now expects the adjusted operating profit to be in the range of 11.4 billion pounds to 11.8 billion pounds.