Vodafone India posts Rs 348.5 billion service revenue for the FY18

The second largest telecommunication company in India, Vodafone, announced Rs 348.5 billion service revenue for the FY18 down 18.9 per cent from the year ago. The firm said that revenue was impacted by reduction in interconnect usage charges (IUC), reduction in international termination charge (ITC) and continuing suppressed pricing in the industry.

“Our business managed costs extremely well, which helped mitigate the reduction in our earnings before interest, tax, depreciation and amortization (Ebitda)  margin despite rolling out 50k 3G/4G sites during the year. Our strategic focus on democratizing data, enriching the content portfolio and bundled offerings resulted in us gaining