AFP
LONDON
The British mobile phone giant posted a loss of 6.3 billion euros ($6.9 billion) for the 12 months to March, after a net loss of 5.4 billion euros in the previous financial year, it said in a statement.
The loss was driven by taxation changes and a 3.7-billion impairment at its Indian division -- which Vodafone is splinning off into a joint venture.
However, underlying or operating profit excluding exceptional items almost tripled to 3.7 billion euros on cost-cutting -- and a solid showing in Europe.
Vodafone shares rallied four percent after it also ramped up the shareholder dividend by two percent, taking the total payout to 14.77 eurocents.
“Our focus on excellence in customer experience has enabled further improvements in our overall commercial and financial performance during the year,” said chief executive Vittorio Colao.
Vodafone is the world’s second-largest mobile-phone carrier in terms of subscriber numbers, trailing global leader China Mobile.
