Vodafone India on Tuesday posted operating profit of Rs 9,805 cr for the financial year 2017-18 ending March 31.
The UK based group had reported an operating loss of around Rs 30,690 crore for 2016-17 on account of Vodafone Group's cutting down the valuation of its Indian business by taking gross impairment charge of 4.5 billion euro.
Vodafone India, which is merging with Idea Cellular, expects the process to be completed by June, possibly making the latest results the last on standalone basis.
Vodafone Group CEO Vittorio Colao said at a web conference that both the companies have already starting branding exercise for the new entity.
Vodafone India continues to face tariff war heat and reported 18.7% decline in organic service revenue to around Rs 35,045 crore in 2017-18 compared to Rs 42,927 crore service revenue registered in the preceding fiscal.
“Intense competition is euphemism. There was 86% decline in data price on year-on-year basis. Good news is that we have got 10 million customer in last quarter but there is a price to be paid for this success,”Colao said.