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RCom's loss, missed payments send shares plunging to record low

Reuters  |  MUMBAI 

By Sankalp Phartiyal and Devidutta TripathyMUMBAI (Reuters) - India's Reliance Communications posted a fourth straight quarterly loss and said it failed to pay interest on some debentures, sending the debt-laden firm's shares tumbling 14 percent to a record low and its bonds down on Monday.The Anil Ambani-controlled telecom operator reported late on Saturday a quarterly loss of 27.09 billion rupees ($414.06 million), compared with a profit of 620 million rupees a year ago. Revenue nearly halved to 26.67 billion rupees, amid a price war started by upstart rival Reliance Jio, which is backed by ...

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First Published: Mon, November 13 2017. 14:24 IST