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Voda pre-tax profit plunges over 39% to Rs 4,075 cr in H1

Press Trust of India  |  Mumbai 

Following its peers, the second largest telco Vodafone today reported a steep 39.2 per cent plunge in pre-profit at Rs 4,075 crore for the six months to September as its fell 15.8 per cent to Rs 19,002 crore due to the fierce completion since the entry of Jio.

The company, which is on course to merge with the third largest player Idea had Rs 22,579 crore in revenues, and an operational profit of Rs 6,704 crore a year ago, which is down 39.2 per cent.

Vodafone attributed the poor set of numbers to the continuing price competition from Jio and incumbents, seasonality and higher rate.

Service fell 15.8 per cent to Rs 19,002 crore in H1 while Ebidta plunged 39.2 per cent to Rs 4,075 crore from Rs 6,704 crore, it said in a statement.

This is despite the fact that the company had strong performance on cost delivering an margin of 21.4 per cent as "data usage quadrupled during the period" and had an operating free flow of Rs 1,543 crore.

The company also increased its market share (RMS) by 60 bps to 23.1 per cent during the reporting period as its customer base rose 3.3 per cent to 207 million.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 14 2017. 16:22 IST