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RCom shares plunge 13.5 pc on Q2 loss

by www.business-standard.com
Shares of Reliance Communications today plummeted 13.5 per cent after the company posted a consolidated loss of Rs 2,709 crore in the second quarter ended September. The stock dived 13.52 per cent to settle at Rs 12.15 on BSE. During the day, it slumped 13.87 per cent to Rs 12.10 -- its 52-week low. On NSE, shares of the company tumbled 13.52 per cent to close at Rs 12.15. The company's market valuation also fell by Rs 860.89 crore to Rs 3,024.11 crore. In terms of equity volume, 97.79 lakh shares of the company were traded on BSE and over 6 crore shares changed hands at NSE during the day. Debt-laden telecom operator Reliance Communications on Saturday reported a consolidated loss of Rs 2,709 crore in the second quarter to September 2017. The company had registered a profit of Rs 62 crore in the same period a year ago. This is the fourth straight quarter of loss for the company. Total income of the firm declined by 48 per cent to Rs 2,667 crore in the reported quarter, .
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