ALSO READReliance Communications records Q2 loss at Rs 2,709 cr, income falls 48% RCom shares end 4% lower on further downgrade in ratings RCom shares continue to fall, end 4% lower RCom shares jump over 6% as it starts monetisation of realty assets Reliance Communications shares slump 14% on Rs 2,709 cr Q2 loss
The stock dived 13.52 per cent to settle at Rs 12.15 on BSE. During the day, it slumped 13.87 per cent to Rs 12.10 — its 52-week low.
On NSE, shares of the company tumbled 13.52 per cent to close at Rs 12.15.
The company's market valuation also fell by Rs 860.89 crore to Rs 3,024.11 crore.
Debt-laden telecom operator Reliance Communications on Saturday reported a consolidated loss of Rs 2,709 crore in the second quarter to September 2017.
The company had registered a profit of Rs 62 crore in the same period a year ago.
This is the fourth straight quarter of loss for the company.
Total income of the firm declined by 48 per cent to Rs 2,667 crore in the reported quarter, from Rs 5,142 crore in the corresponding period of the previous fiscal.
RCom, which is on the verge of shutting its voice call service, witnessed a decline in revenue from its both India and global operations.
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