Reliance communication registers 33 percent fall in first quarter of 2017-18

Reliance Communication has registered a Rs 1, 210 crore loss in the first quarter of FY 2016-17.

By: Express Web Desk | New Delhi | Updated: August 13, 2017 1:17 am
reliance communication, quarterly one result, reliance power, reliance loss, reliance growth, reliance news, business news In picture, Reliance infrastructure chairman Anil Ambani. (File Photo)

Reliance Communications in the first quarter has faced a massive loss of Rs 1,210 crore, the company witnessed a 33 percent dip in its total income in the beginning quarter of financial year 2017-18. As reported by news agency PTI, a Rs 3,591 crore downfall in its income has been registered by the company. The company has been facing business loss for some time now, in the final quarter of the FY 2016-17 Reliance Communication had suffered a loss of Rs 948 crore that ended March 2017.

Shares of R Comm closed at 20.75 down by 2.12 percent on the BSE on Saturday as the board met to review the matters regarding the proposed merger with Aircel. The merger valued at $6 billion has already received the approval of the Securities and Exchange Board of India (SEBI), Competition Commission of India (CCI) and both BSE and NSE. The company aims at completing the merger by September this year.

Reliance Communications is an Anil Ambani owned company.

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  1. R
    Roby Mani
    Aug 12, 2017 at 9:51 pm
    Mukesh and Anil become richer while the share holders and become paupers, Thanks to Modi and his team for bringing this catastrophy on the gullible voters.
    Reply
    1. I
      Ivan
      Aug 12, 2017 at 7:24 pm
      They will be registering losses for the next two to three years as the telecom industry is shaken out by the predatory compe ion unleashed by Reliance itself. Good luck to the government in milking this industry for any taxes.
      Reply
      1. I
        Ivan
        Aug 12, 2017 at 7:25 pm
        compe t i t ion!!
        Reply