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Vodafone India's H1 operating profit falls 39 percent


REUTERS - Vodafone Group PLC's India unit 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 amortisation (EBITDA) fell to 40.75 billion rupees ($622.26 million) in the half year ended Sept. 30, from 67.04 billion rupees a year earlier, Vodafone India, the country's No.2 telecom operator, said in a statement on Tuesday.EBITDA margin shrunk to 21.4 percent from 29.6 percent, while service revenue dropped about 16 percent to ...

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First Published: Tue, November 14 2017. 15:29 IST