British mobile network operator Vodafone rebounded from losses to make its way into Fortune's most profitable list with net earnings of $13.3 billion, helped by acquisitions in India and Turkey, as well as successful operations in Italy and Spain.
The company's voice usage increased by 16.7% in 2007. Strong growth in the Indian market is bumping up the profit margins.
Vodafone boasts over 44 million customers and an average of 1.5 million net customer additions per month since acquiring a majority stake in Hutchison Essar (renamed Vodafone Essar) in 2007. And earlier this year, the company said it would launch the iPhone 3G in India this summer.