Reliance Communications Posts Wider Loss In Third Quarter

Debt-laden Indian telecom company Reliance Communications Ltd (RCom) reported a wider loss for the third quarter, hurt by higher expenses.

Net loss came in at 2.38 billion rupees (USD 33.38 million) for the October-December quarter, compared to a loss of 1.30 billion rupees in the year-ago period.

Revenue from operations fell about 6.5 percent to 10.70 billion rupees.

Earlier this year, RCom said it remained “fully committed” to settle dues with Swedish telecom gear maker Ericsson from the proceeds of wireless assets sale to Reliance Jio Infocomm Ltd―Reuters