Quashing the predictions of the analysts, Vodafone Group has reported a 2.2% increase in the fiscal Q1 organic service revenue. Among its markets, Spain, Germany and Italy performed to the mark.
“We continued to make good progress during the first quarter,” Vodafone CEO Vittorio Colao said. “In Europe, our growth remains stable despite regulatory pressure on roaming revenue, with good performance in Germany, Spain and Italy while we are focused on improving our performance in the U.K. Our growth momentum in Africa, Middle East and Asia-Pacific remains strong, with excellent performance in South Africa, Turkey and Egypt and ongoing recovery in India.”
In Britain, Vodafone faced an issue with a new billing system. The sales in Britain dropped 3.2%. It’s too early to say how Brexit affect Vodafone’s business, said the company.
The business in other markets, comprising of Africa, Middle East and Asia-Pacific registered 7.7% rise in revenue during the quarter that ended on June 30.
After the recent price cut by EU in April, Vodafone faces a loss in business and consumer calls when people travel. The roaming charges will be fully abolished by June 2017.
In terms of subscriber base, Vodafone Group ended June with a total customer base of 121.4 million customers across Europe. The group has 340.8 million mobile subscribers in Africa, Middle East and Asia Pacific. In India, Vodafone ended the quarter with 197.9 million mobile subscribers.
In Europe, Germany reported the 30.3 million mobile subscribers, Italy has around 24.1 million customers, the U.K. has 18.2 million subscribers and Spain has 14.3 million subscribers.
Vodafone claimed an increase in 4G customers, almost double when compared to the previous year. The Group has 52.5 million 4G subscribers across the 21 countries. It added 5.7 million customers in fiscal Q1. In India, the 3G/4G customer base has surged to around 32.3 million, which is a 46% rise.