 "Reliance Communications shares tank over 14% after Rs 2,709 cr net loss in Jul-Sep quarter")
New Delhi: Shares of Reliance Communications on Monday tumbled over 14 percent after the company posted a consolidated loss of Rs 2,709 crore in the second quarter ended September.
The stock slumped 13.87 percent to Rs 12.10 – its 52-week low – on the BSE.
At the NSE, it tanked 14.23 percent 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 company.
Total income of the firm declined by 48 percent 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.
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