RCom posts Rs 1,210-cr loss in June quarter 

Source: The Hitavada      Date: 13 Aug 2017 11:04:55


NEW DELHI,

Aug 12,

(PTI),

TELECOM company Reliance Communications on Saturday posted a consolidated loss of Rs 1,210 crore in the three-month period ended June 30, 2017. This is the third straight quarter loss for the debt-ladden firm, besides, it has not been able to recover from the pressure of aggressive tariff war triggered after the entry of the Mukesh Ambani-led Reliance Jio Infocomm.

The company had registered a profit of Rs 90 crore in the same period a year ago. “The telecom sector in India continues to be very adversely impacted during the financial year 2017-18 by competitive intensity on a scale never witnessed before in the country,” RCom said in a statement. It attributed a loss of Rs 1,221 crore to equity holders of the company during the reported quarter compared to profit of Rs 54 crore in corresponding quarter of last fiscal.