RCom shares tank over 14% on Q2 loss
Shares of Reliance Communications
today tumbled over 14 per cent after the company posted a
consolidated loss of Rs 2,709 crore in the second quarter
The stock slumped 13.87 per cent to Rs 12.10 -- its 52-
week low -- on the BSE.
At the NSE, it tanked 14.23 per cent to hit its one-year
low of Rs 12.05.
Debt-laden telecom operator Reliance Communications on
Saturday reported a consolidated loss of Rs 2,709 crore in the
second quarter to September 2017.
The company had registered a profit of Rs 62 crore in
the same period a year ago.
This is the fourth straight quarter of loss for the
Total income of the firm declined by 48 per cent to Rs
2,667 crore in the reported quarter, from Rs 5,142 crore in
the corresponding period of the previous fiscal.
RCom, which is on the verge of shutting its voice call
service, witnessed a decline in revenue from its both India
and global operations.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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