 "A customer leaves a Reliance communications store in Ahmedabad")
Shares of Reliance Communications (RCom) fell as much as 15.11% to its all time low of Rs 21.95 on poor March-quarter earnings and worries over debt repayment.
Reliance Communications on Saturday reported loss of Rs948 crore for the fourth quarter, hurt by intense price war unleashed by newcomer Jio. It had registered net profit of Rs79 crore in the corresponding period of the previous year.
“The telecom sector in India has been very adversely impacted on account of “free offers, disruptive pricing and hypercompetition during 2016-17 by competitive intensity on a scale never witnessed before in the country,”
Reliance Communications on Saturday reported loss of Rs948 crore for the fourth quarter, hurt by intense price war unleashed by newcomer Jio. It had registered net profit of Rs79 crore in the corresponding period of the previous year.
“The telecom sector in India has been very adversely impacted on account of “free offers, disruptive pricing and hypercompetition during 2016-17 by competitive intensity on a scale never witnessed before in the country,”
