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Reliance Communications posts third consecutive quarterly loss

Reuters  |  MUMBAI 

By Sankalp PhartiyalMUMBAI (Reuters) - Indian telecoms carrier Reliance Communications (RCom) posted its third straight quarterly loss on Saturday as its heavy debt load and a price war triggered by an upstart rival continued to weigh on sales and profit.RCom, controlled by billionaire Anil Ambani, has won a reprieve on its debt until the end of the year as it works on two asset sale deals that it expects will reduce its $7 billion debt by about 60 percent.On Saturday, it reported a net loss of 12.21 billion Indian rupees ($190.38 million) for its fiscal first quarter ended June, against a ...

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First Published: Sat, August 12 2017. 20:04 IST
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