(Reuters) - Indian telecoms carrier Reliance Communications Ltd reported a narrower quarterly net loss of 1.30 billion rupees ($20.45 million) on Monday.
RCom is selling most of its wireless assets to carrier Reliance Jio Infocomm Ltd to raise funds to repay billions of dollars it owes to a clutch of banks.
The loss for the three months ended Dec. 31 was RCom's fifth straight quarterly loss but smaller than the net loss of 5.31 billion rupees it reported a year earlier.
Revenue from operations fell 31.7 percent to 11.44 billion rupees.
($1 = 63.5725 Indian rupees)
(Reporting by Tanvi Mehta in Bengaluru; editing by Himani Sarkar; editing by Jason Neely)
(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.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app