16.7 pc increase in operating profit: Vodafone

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Vodafone
London, May 19: Vodafone Group, the global cell phone major on Tuesday, May 19 reported 16.7 pc increase in operating profit (11.8 billion pound) for the year ended Mar 31 on higher revenues from its new leading markets, maily India.

In the financial year 2008, Vodafone's profit stood at 10.07 million pound. Company said in a statement that it witnessed 15.6 per cent jump in revenues at 41 billion pound for the year ended March 31 against 35.47 billion pound in the FY 2008.

"These results demonstrate the impact of the early actions we took to address the current economic conditions and highlights the benefits of our geographic diversity. The business continues to generate cash strongly and we have made good progress in implementing the strategy announced in Nov (2008)," Vodafone Group Plc Chief Executive Vittorio Colao said.

The company's revenues in India stood at 2.68 billion pound, while from the entire Asia-Pacific region revenues were at 5.81 billion pound for the fiscal 2009, the statement said.

"We have continued to drive penetration in India, generating strong revenue growth from our brand and commercial offers and a substantial investment in network coverage, Calao said.

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