RCom shares plunge 13.5% on Q2 loss

New Delhi: Shares of Reliance Communications on Monday plummeted 13.5 percent after the company posted a consolidated loss of Rs 2,709 crore in the second quarter ended September.
The stock dived 13.52 percent to settle at Rs 12.15 on BSE. During the day, it slumped 13.87 percent to Rs 12.10 — its 52-week low.
On NSE, shares of the company tumbled 13.52 percent 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 percent to Rs 2,667 crore in the reported quarter, from Rs 5,142 crore in the corresponding period of the previous fiscal.
RCom, which is on the verge of shutting its voice call service, witnessed a decline in revenue from its both India and global operations.