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Vodafone India Announces Half Year FY18 Results

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.

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