Telecom giant Vodafone on Tuesday reported nearly three-times growth in net profit at 8.61 billion pounds ($12.42 billion) for the 2010 fiscal, mainly helped by growth in mobile data and cost cutting measures.
In the year-ago period, the company had a net profit of 3.08 billion pounds, Vodafone said in a statement.
The British firm attributed its profit to robust performance in emerging markets and growth in mobile data and fixed broadband as well as cost cutting measures.
"Vodafone India was impaired by 2.3 billion pounds primarily due to intense price competition following the entry of a number of new operators into the market," it said.
The company's overall revenue rose by 8.4 per cent to 44.5 billion pounds for the fiscal year ended March 31, 2010. For the fiscal year ended March 31, 2010, the company's earnings before interest, taxes, depreciation and amortization from Indian operations rose by 12.5 per cent to 807 million pounds.
Besides, Vodafone India revenues also grew by 16 per cent to 3.11 billion pounds. In India, Vodafone has added 32 million customers during the fiscal, taking the total to 341 million worldwide.
Further, the telecom giant's service revenues from Asia Pacific and Middle East increased by 9.8 per cent to 6.1 billion pounds, reflecting another strong contribution from India, where service revenue grew by 14.7 per cent to 3.06 billion pounds.
While Africa and Central Europe service revenue declined by 1.2 per cent to 7.4 billion pounds and Europe service revenue dipped by 3.5 per cent to 28.3 billion pounds.
The company said fixed line revenue grew by 7.9 per cent to 3.3 billion pounds with strong broadband customer growth and increased market share. The group's fixed broadband customer base is now 5.6 million.
Besides, the company's one billion pounds cost savings programme delivered one year ahead of schedule.
Vodafone has raised its final dividend by 8.7 per cent to 5.65 pence a share from 5.2 pence.