Vodafone bounces back into first-half net profit

British telecommunications giant Vodafone announced Monday that it rebounded back into profit in the first half of its financial year in a “resilient” performance as it shrugged off the fallout from the coronavirus pandemic.

Profit after tax hit 1.3 billion euros ($1.5 billion) for the six months to September, the mobile phone giant said in a results statement.

That followed a net loss of 2.1 billion euros in the same period a year earlier, which came after India’s Supreme Court ordered telecoms companies to pay long-standing bills for past spectrum and licensing fees.

Vodafone said revenues slid 2.3 per cent to 21.4 billion euros in the reporting period, as the pandemic slashed international travel and roaming income and weighed also on handset demand.