RCOM s loss reduces by over 95% in Q3

New Delhi Jan 29 (IANS) Reliance Communications (RCOM) loss came down substantially in the third quarter of 2017-18 by over 95 per cent as the company exited from the consumer business a company statement said here on Monday.

The company posted loss of Rs 130 crore for the third quarter of 2017-18 compared to Rs 2 712 crore posted during the corresponding quarter a year ago.

"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 " said RCOM Chairman Anil D. Ambani.

RCOM s new business portfolio comprises business-to-business (B2B) businesses like global and Indian enterprise internet data centres (IDC) global submarine cable network and international long distance voice with around 40 000 global and Indian customers.

--IANS
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