Vodafone India has completed the sale of its stand-alone tower business to ATC for Rs3,850 crore. Service revenue fell to Rs34,855 crore in the 12 months ended 31 March from Rs42,956 crore in the previous year, Vodafone India said in a statement on Tuesday. Vodafone India’s earnings before interest, tax, depreciation and amortization, or Ebitda, fell 34% to Rs7,766 crore in 2017-18 from Rs11,784 crore in the previous year. Vodafone India’s operating free cash flow plunged 59% to Rs1,214 crore from Rs2,992 crore in the year. Net debt of Vodafone India was Rs62,100 crore at the end of March.

Source: Mint May 15, 2018 09:22 UTC