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RCOM posts a consolidated loss of Rs 12.21 billion for quarter ended 2017

August 13, 2017

Reliance Communications (RCOM) has posted a consolidated net loss of Rs 12.21 billion during the quarter ended June 2017. The operator had posted a net profit of Rs 540 million in the corresponding quarter in 2016. This is the third consecutive quarter, wherein the operator has reported a loss.

Meanwhile, revenues declined by 33 per cent from Rs 53.61 billion during quarter ended June 2016 to Rs 35.91 billion during the corresponding quarter in 2017. The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 65 per cent from Rs 15.60 billion to Rs 5.43 billion during the same period.

The company has cited disruptive pricing by rivals and unprecedented competitive intensity of the sector as the reasons for the disappointing performance.


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