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RCom post 4th straight quarterly loss; shares plunge 13.5%

The company's market valuation also fell by Rs 860.89 crore to Rs 3,024.11 crore

Press Trust of India  |  New Delhi 

A man walks past a logo of Reliance Communication before the Annual General Meeting in Mumbai. (Photo: Reuters)
A man walks past a logo of Reliance Communication before the Annual General Meeting in Mumbai. (Photo: Reuters)

of Communications on Monday plummeted 13.5 per cent after the company posted a consolidated loss of Rs 2,709 crore in the second quarter ended September.

The stock dived 13.52 per cent to settle at Rs 12.15 on During the day, it slumped 13.87 per cent to Rs 12.10 — its 52-week low.

On NSE, 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.

In terms of equity volume, 97.79 lakh of the company were traded on and over 6 crore changed hands at during the day.

Debt-laden telecom operator 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 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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, November 13 2017. 17:02 IST
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