Vodafone India reported a 39 percent fall in operating profit for the first half of this fiscal year, hurt by a bruising price war started by an upstart rival and a new nationwide sales tax.
Earnings before interest, tax, depreciation, and amortization (EBITDA) fell to Rs. 4075 crore in the half year ended September 30, from Rs. 6704 crore a year earlier.
EBITDA margin shrunk to 21.4 percent from 29.6 percent, while service revenue dropped about 16 percent to Rs. 19,002 crore.