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RCom shares slump after fourth straight quarterly loss

Reuters  |  MUMBAI 

By Sankalp PhartiyalMUMBAI (Reuters) - Reliance Communications Ltd's shares plummeted on Monday, after the company posted a fourth straight quarterly loss as it struggles with a heavy debt load and a price war started by an upstart rival that has eaten into margins.The billionaire Anil Ambani-controlled telecom operator on Saturday said its net loss widened to 27.09 billion rupees ($414.95 million), compared with a profit of 620 million rupees a year ago.Shares in the company, widely known as RCom, fell as much as 12.1 percent and were down 10.3 pct at 0424 GMT.With net of debt of 443 ...

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First Published: Mon, November 13 2017. 10:46 IST
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