The group, which was bought by Liberty Global in 2013, posted a leap in underlying earnings to £377.5m in 2015 from £274.1m in 2014 as a jump in broadband customer numbers offset high numbers of TV subscribers quitting following a recent price hike.
Its results come less than a month after Virgin Media warned of a potential 900 redundancies over the next two years as part of a group-wide overhaul.
It is consulting with employees and has yet to give details of which departments or offices will be affected.
Virgin Media's results showed its best broadband performance for more than five years, with 69,000 UK internet customers added on a net basis in the final three months of 2015 - the highest since the beginning of 2010.
It also grew its fixed-line telephone customer base strongly, up by 56,000 in the fourth quarter and by 94,000 across the whole year, helping the group notch up a record 99,000 additional customers overall in the UK in 2015.
But the move to raise TV prices hit that part of the business, with only 900 TV subscribers added during the fourth quarter - a fraction of the 21,500 who joined in the same quarter a year earlier.
The group admitted it had seen "elevated TV churn" after raising the price of its TV XL package by £3 in September - a move it made to recoup some of the increased costs of sports rights, which include live Premier League football.
Virgin Media said the numbers of TV customers quitting stabilised in the fourth quarter of last year.
Tom Mockridge, chief executive of Virgin Media, said: "These results demonstrate a strong financial performance."
He added: "We've grown revenue and operating cash flow and improved cost control since becoming part of Liberty Global."
Annual figures showed revenues rose 4% to £4.62bn in 2015.
Virgin Media also said it added more than 250,000 homes and businesses to its cable network under its £3bn "Project Lighting" investment to deliver ultra-fast broadband across the UK and Ireland.
The group plans to expand its network reach by 4 million to 17 million by the end of 2019.