Vodafone India H1 revenue jumps 13.3%

Nov 14 2012, 21:49 IST
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SummaryTelecom major Vodafone India today said its revenue has grown to Rs 17,580 cr.


Talking about one-time spectrum fee, Pieters said the government needs to create a level playing field between private operators and state-run entities -- BSNL and MTNL.

"BSNL and MTNL have a lot of spectrum and they dont use it very efficiently. Also, if I have to pay thousands of crores in spectrum fee, while the competitor doesn't, to me that's not level playing field. There have to be same rules," he added.

Asked about its IPO, Pieters said the company remains committed to bringing out the initial offering.

"We are very serious about the IPO...but its difficult to have an IPO in a situation where there is regulatory uncertainty around spectrum allocation, pricing and for us specifically licence extension. Once there is clarity, we will see," he said.

Vodafone Group has also decided against making about Rs 12,000 crore worth of provision for the tax it may have to pay under the retrospective changes brought into taxation laws.

"Should further demand for taxation be received by Vodafone International Holdings BV's (VIHBV) or any member of the Group as a result of the new retrospective legislation, the Group believes it is probable that it will be able to make a successful claim under the BIT (bilateral investment treaty), which will not result in an outflow of economic benefits from the Group," it said.

The Group did not carry a provision for the litigation or in respect of the retrospective legislation at September 30, 2012 or at previous reporting dates, it added.

Vodafone India registered strong growth in data revenues at 12.4 per cent in first half. The active data customers totalled 32 million, including about 2.1 million 3G data customers as on September 30, 2012.

According to a Vodafone Plc statement, voice revenue from India stood at GBP 1,582 million, while messaging revenue was GBP 74 million, data revenue GBP 168 million and fixed line revenue GBP 9 million during first half.

Vodafone makes no provision for Hutch deal tax claim

British telecom giant Vodafone has decided against making a provision in its balance sheet for the over Rs 11,000 tax claim made by Indian authorities for its 2007 deal to acquire stake in Hutchison-Essar.

"The Group did not carry a provision for the litigation or in respect of the retrospective legislation at 30 September 2012 or at previous reporting dates," Vodafone Group said in its first half financial results filing.

The Income Tax Department had raised a Rs 11,218 crore tax

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