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RCOM reports Rs 2700 crore loss for Q2-FY18; India Revenues down 51.8% YoY

Anil Ambani's Reliance Communications (RCOM) has posted a loss of Rs 2700 crores for the quarter ended September 30th 2017, more than doubling from the Rs 1221 crore loss reported last quarter. In the same quarter last year, RCOM had reported a profit of Rs 51 crore. RCOM, which was always far less profitable than other major telecom operators, slipped into losses after the launch of Reliance Jio, and its rollout of cheaper data plans. Remember that RCOM's pitch throughout had been of being a data-led company, and they got beaten at their own game. In its earnings release, RCOM has said that its asset monetization programme is "at an advanced stage" and RCOMs assets "derive significant interest from Indian and overseas telcos, strategic investors and PE firms. A large number of potential investors participate in the transparent and competitive process…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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