EBITDA margin shrunk to 21.4 per cent from 29.6 per cent, while service revenue dropped about 16 per cent to Rs 19,002 crore.
Reliance Jio Infocomm, a telecom venture controlled by billionaire Mukesh Ambani, entered the market late last year with free voice and cut-price data, forcing incumbent carriers to drop prices even though their margins took a hit.
The competition drove small carriers out of business and also sparked off consolidation in the sector.
On Monday, Vodafone India agreed to sell its standalone tower business to American Tower Corp for Rs 3,850 crore.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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