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Reliance Communications shares slump 14% on Rs 2,709 cr Q2 loss

This is the fourth straight quarter of loss for the company

Press Trust of India  |  New Delhi 

The earnings of Anil Ambani's Reliance Communications slumped after Reliance Jio offered free calls and data plans.
The company had registered a profit of Rs 62 crore in the same period a year ago

Shares of on Monday tumbled over 14 per cent after the company posted a consolidated loss of Rs 2,709 crore in the second quarter ended September.

The stock slumped 13.87 per cent to Rs 12.10 - its 52- week low - on the


At the NSE, it tanked 14.23 per cent to hit its one-year low of Rs 12.05.

Debt-laden operator 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.

First Published: Mon, November 13 2017. 13:41 IST
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