RCOM's loss reduces by over 95% in Q3

Reliance Communications' (RCOM) loss came down substantially in the third quarter of 2017-18 by over 95 per cent as the company exited from the consumer business, a company statement said here on Monday.

The company posted loss of Rs 130 crore for the third quarter of 2017-18 compared to Rs 2,712 crore posted during the corresponding quarter a year ago.

"RCOM's planned exit from the consumer business has achieved more than the desired results. RCOM has reduced its net loss by over 95%. RCOM expects to deliver even better financial performance in the coming quarters," said RCOM Chairman Anil D. Ambani.

 

RCOM's new business portfolio comprises business-to-business (B2B) businesses like global and Indian enterprise, internet data centres (IDC), global submarine cable network and international long distance voice with around 40,000 global and Indian customers.

--IANS

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