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Reliance Communications Q1 Loss Widens To INR 366 crore

Financial results News - Published on Mon, 12 Aug 2019

Image Source: NewsGram
Debt ridden Reliance Communications reported widening of consolidated loss to INR 366 crore in the first quarter ended June 30, 2019. The company had posted a loss of INR 342 crore in the same period a year ago. The loss excludes interest of INR 1,094 crore and foreign exchange variation of around INR 33 crore during the reported quarter.

RCom auditor said in a statement that “Had the company provided interest and foreign exchange variation, the loss would have been higher by INR 1,061 crore for the quarter ended June 30, 2019.”

The insolvency resolution professional took over custody of the management and operations on May 2, 2019, but on June 28 it was transferred to the resolution professional of corporate debtor.

Total income of RCom during the reported period declined to INR 866 crore from INR 1,008 crore a year ago.

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Posted By : TelecomGuru on Mon, 12 Aug 2019
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