Vodafone Group announced its full year financial performance wherein the company witnessed its profit growth rate dip by more than 50 % at 3.1 billion pounds as compared to 6.8 billion pounds posted last year during the corresponding quarter.

India operations continue to contribute significantly to the company'''s financial performance. The JV with Essar in India witnessed revenues of 2.6 billion pounds for last fiscal at 41.6% growth. Voice revenues grew by 42.2 % to 2.2 billion pounds while revenues from messaging totaled 85 million pounds at 25 % growth. Data revenues surged by 42.3 % to 148 million pounds.

The company has more than 68 million in the country at the end of March 31, 2009. Churn rate for the company in total reached 25.2 % with prepaid witnessing 21.2 % churn and postpaid more than 28 %. The average monthly revenue per user dipped to Rs 274 from Rs 350, a year ago. For postpaid the ARPU dipped to Rs 815 from Rs 910 while for prepaid it reached to Rs 229 from Rs 287.

For Vodafone Group, the dip in profits was mainly due to writedowns of 5.9 billion pounds. The writedowns were due to the company's Spanish and Turkish operations. Revenues rose by 16 % to 41 billion pounds.

The company is now gearing up to peed up its cost cutting measures. The company expects to register operating profit of 11 billion pounds to 11.8 billion pounds in the current fiscal.

Revenues from Europe were at 29.6 billion pounds while Africa & Central Europe recorded 5.5 billion pounds revenues and Asia Pacific & Middle East registered revenues of 5.8 billion pounds.

Data revenues for the company grew by 43.7 % to 3 billion pounds.