RCom reports Rs 130 crore net loss in Q3 post exit from consumer business

[Sai Jai]

NEW DELHI: Reliance Communications (RCom ) on Monday reported Rs 130 crore net loss for the October-December quarter against Rs 2,712 crore net loss in the previous quarter. The telco said that its planned exit from consumer business results in a sharp drop in the net quarterly loss by over 95%.

Spoiler

“RCom’s planned exit from the consumer business has achieved more than the desired results. RCom has reduced its net loss by over 95%. RCom expects to deliver even better financial performance in the coming quarters," Anil D Ambani, Chairman, Reliance Communications Limited said in a statement.

The telco said that its new business portfolio reported consolidated revenues of Rs 1,176 crore and EBITDA of Rs 252 crore. The EBITDA margin was at 21.4%. Indian operations’ revenues and EBITDA stood at Rs 596 crore and Rs 95 crore respectively; while Global business contributed revenues and EBITDA of Rs 709 crore and Rs 157 crore, respectively.

The telco's new business portfolio comprises Business to Business (B2B) businesses namely Global and Indian enterprise, internet data centres (IDC), global submarine cable network and international long distance voice with ~40,000 Global and Indian customers.

The telco said that its strategic transformation is well underway. During the quarter, RCom had announced to exit from RBI’s SDR Framework. It had inked the definitive binding agreements for sale of Wireless, Spectrum (excluding 4G spectrum under sharing), Tower, Fiber and Media Convergence Node (MCN) assets.

RCom reports Rs 130 crore net loss in Q3 post exit from consumer business - ET Telecom

 

[Kiran Reddy]

Rcom may have decreased it's loss but I am sure it also lost many loyal customers

 

[Sai Jai]

Rcom may have decreased it's loss but I am sure it also lost many loyal customers

No business mind from Anil from Rookie till today never learned anything unfortunately

Only in their to beat mukesh unfortunately that's not enough to make profit

He may be a gud employee but certainly not gud CEO

 

[Sai Jai]

Arbitration court bars Reliance Communications from selling or transferring assets - ET Telecom

 

[Bapun]

RCom completes sale of some assets to Reliance Jio for Rs 20 billion

Reliance Communications on Thursday said it has completed the planned sale of its media convergence nodes (MCNs) and related infrastructure assets, worth Rs 20 billion, to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO).