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RCOM’s losses up 26% QoQ at Rs 1,221 crore in Q1FY18

Anil Ambani led Reliance Communications has posted a loss of Rs 1,221 crore for the quarter ended June 2017 (Q1FY18), which increased 26.3% from Rs 966 crore in the previous quarter. In the same quarter last year, RCOM had reported a profit of Rs 54 crore. The company’s losses have been shooting up constantly after the launch of Reliance Jio's unlimited calling and data plans. The market has moved from a tariff-led strategy to one of bundling (4G+unlimited calling) and the impact is being felt on both profits and subscriber base. Some highlights from financials Total consolidated income: For the June quarter, total income was at Rs 3,591 crore, down 20.6% QoQ from Rs 4,525 crore and down 33% YoY from Rs 5,361 crore revenues in Q1FY17. Regional share in revenues: India operations contributed about 78.4% of its overall revenue at Rs 3,048 crore during the quarter. The rest came from RCOM’s global operations in the US, Middle East, Europe, etc. Regional profits/losses share: Both Indian and global operations are running at losses: India operations suffered a loss of Rs 576 crore while global operations generated losses of Rs 65 crore during Q1FY18. Expenses: Access charges, license fee and network expenses contributed to 45.9% of RCOM’s total expenditure during the quarter at Rs 2,402 crore. Liabilities: India operation liabilities was at Rs 15,328 crore during Q1FY8, which accounted for 63.3% of the company’s total liabilities which stood at Rs 24,194 crore. RCOM’s lenders initiate process to convert debt into equity RCOM said that…

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