RCom shares down 13.5% on second quarter loss

RCom shares down 13.5% on second quarter loss

Shares of Reliance Communications on Monday plummeted 13.5% after the company posted a consolidated loss of Rs 2,709 crore in the second quarter ended September.

The stock dived 13.52% to settle at Rs 12.15 on the BSE. During the day, it slumped 13.87% to Rs 12.10 -- its 52-week low.

On the NSE, shares of the company tumbled 13.52% to close at Rs 12.15.

The company's market valuation also fell by Rs 860.89 crore to Rs 3,024.11 crore.

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% 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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