Vodafone FY09 profit up 16.7% on strong revenues from India

Global mobile phone major Vodafone Group Plc today reported 16.7 per cent increase in operating profit at £11.8 billion for the year ended March 31, 2009, on higher revenues from emerging markets — mainly India.

The company’s operating profit stood at £10.07 billion in the financial year 2008. Vodafone Group Plc witnessed 15.6 per cent jump in revenues at £41 billion for the year ended March 31, against £35.47 billion in the FY08, a company statement said.

“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 November (2008),” Vodafone Group Plc Chief Executive Vittorio Colao said.

In Asia-Pacific and the West Asia, the company’s revenue increased by 19 per cent on a pro forma basis, reflecting a strong contribution from India where revenue grew by 32.9 per cent on a pro forma basis, the statement added.

“During the financial year 2009, the company added 24.6 million customers in India and ended the year with the highest rate of net additions in the market,” it added.

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