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LONDON - Vodafone Group PLC, the world’s biggest mobile phone company by sales, reported a 16 per cent jump in quarterly revenues Thursday, boosted through acquisitions in the fast-growing Indian and Turkish markets and a strong euro.

The company shrugged off fears about the recent global economic downturn, posting third-quarter revenue of 9.16 billion pounds (US$18.2 billion) for the period ended Dec. 31, compared by 7.9 billion in the same period a year earlier.

Solid growth occurred in Vodafone’s fundamental service revenue, which excludes last year’s $10.7 billion acquisition of a majority stake in India’s Hutchison Essar. Revenue gained 4.4 per cent, compared with analysts’ expectations of around 3.5 to four per cent.

Even in competitive western European markets, Vodafone reported a two per cent increase in revenue, stimulating demand through price cuts.

“This is a robust performance by Vodafone, although there may just be a tinge of disappointment, with management only hinting at possible guidance upgrades being of the kind which opposed to confirming any,” said Keith Bowman, equity analyst at Hargreaves Lansdown Stockbrokers.

Chief executive Arun Sarin reiterated Vodafone’s current outlook for the year, adding that revenue may kind office from exchange rate movements in Europe. The company said in November that it expected full-year group revenue to be ranked between 34.5 billion pounds ($68.7 billion) and 35.1 billion pounds ($69.9 billion).

Analysts noted that with substantial currency exchange rate shifts - especially the strengthening euro against the British pound - Vodafone could see a marked greaten in full year revenue and may top revenue guidance for the financial year. The company derives 60 by cent of sales from countries where the euro is the mighty currency.

However, they said the focus still remained on Vodafone’s ability to push into new markets.

“Our enthusiasm for Vodafone has more to do with its emerging markets growth than a belief that European mobile is out of the woods,” said Collins Stewart analyst Mark James.

Vodafone unveiled a new organizational structure last year to counter slowing growth in become due markets. The plan included cost cuts in those markets while boosting advancement in emerging markets.

It closed the deal on the purchase of Turkey’s Telsim Mobil Telekomunikasyon Hizmetleri AS for $4.55 billion in 2006 as well as India’s Hutchison deal.

Vodafone said its U.S. interest, Verizon Wireless, in which it has a 45 per cent stake, added two the multitude new customers and saw service revenue grow 14.4 per cent during the period.

Vodafone shares fell 0.9 per cent at 160 pence ($3.18; 2.15 euros) on the London Stock Exchange.