For the first time in four years, the Indian business of Vodafone Plc today posted a profit of euro 15 million (Rs 109.5 crore) for the financial year ended March. Last year, the business posted a loss of euro 37 million (Rs 270 crore).

Service revenues from India grew 16.2 per cent, with a 1.7 per cent contribution from its tower joint venture, Indus Towers. �Our performance in India has been driven by increasing voice penetration and a more stable pricing environment,� said Vittorio Colao, chief executive officer of Vodafone Plc.