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.
Vodafone India and Idea Cellular Ltd, India's third-biggest wireless carrier, are to merge operations, potentially creating the country's biggest telecom player.
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On Monday, Vodafone India agreed to sell its standalone tower business to American Tower Corp for Rs 3,850 crore.© Thomson Reuters 2017
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