Vodafone India's Jan-Sept service revenue falls 16%

The company blamed competition from new operator Reliance Jio and incumbent players and GST for the weak results

India’s second-largest telecom operator Vodafone announced Rs 19,002-crore service revenue in the half year ended September, down 15.8 per cent from the same period last year.

The company blamed competition from new operator Reliance Jio and incumbent players, seasonality, and the goods and services tax for the weak results. Earnings before interest, depreciation, tax and amortisation took a massive 39.2 per cent beating, declining to Rs 4,075 crore from Rs 6,704 crore last year. Margins were 21.4 per cent, down from 29.6 per cent a year ago. “Amidst continuing intense competition, we delivered a stable performance overall. 

We see signs of positive