(MENAFN) According to an Economic Times report, Vodafone India posted its first net profit since it started operating in the country in 2007, QNA reported.
The local unit of United Kingdom's Vodafone Group Plc registered an increase of 26 percent in its net profit in the financial year to March 2014 from a year earlier, hitting USD2.277 billion.
India's second telecom operator attributed the increase to the reduction of competition in fiscal 2014, which allowed it to cut discounts and raise effective call rates.
"We have turned net profitable for the first time indeed," Vodafone India MD & CEO Marten Pieters said.
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