Exit From Wireless Business Helped RCom Lower Net Loss to Rs 130 Crore in Q3

Anil Ambani-led ailing telco Reliance Communications (RCom) said that its net loss has come down sharply by over 95% to Rs 130 crore in the third quarter ended December 31, 2017, largely helped by the planned exit from consumer business which comprised wireless, direct to home and PCO. The telco had reported Rs 2,712 crore net loss in the second quarter of the ongoing fiscal.

rcom-wireless-business-exit

During the quarter, RCom had announced to exit from RBI’s SDR Framework. RCom on Monday also said that its strategic transformation to cut debts is well underway.

As part of its strategic transformation, RCom had signed an agreement with Mukesh Ambani-led Reliance Jio to sale wireless assets, spectrum (excluding 4G spectrum under sharing), tower business, fiber and Media Convergence Node (MCN) assets. “The asset monetisation is on track to close by March 2018, subject to lenders’ consents and other regulatory approvals,” the telco said

“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,” Anil D Ambani, Chairman, Reliance Communications Limited said in a statement.

RCom said that its new business portfolio reported consolidated revenues of Rs 1,176 crore and EBITDA of Rs 252 crore. The EBITDA margin was at 21.4%. Indian operations’ revenues and EBITDA stood at Rs 596 crore and Rs 95 crore respectively; while Global business contributed revenues and EBITDA of Rs 709 crore and Rs 157 crore, respectively.

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RCom’s new business portfolio comprises Business to Business (B2B) businesses namely Global and Indian enterprise, internet data centres (IDC), global submarine cable network and international long distance voice with ~40,000 Global and Indian customers.

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Priyansh SinghRajnish | AgraKaushikAircel The No.1 Network of IndiaSandeep Bansal Recent comment authors
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lalit
lalit

Off topic – Using Idea in Mumbai , feel like throwing the sim card in dustbin, but since its my primary number cant do that, any suggestions which network to port-in?, Please suggest.

Nikhil Nagpur
Nikhil Nagpur

Not best but Jio coverage is good in Mumbai. Vodafone and Airtel have call drop issues and also have 2G/3G/4G latching issue at the time of net surfing. Jio have net speed issues in some areas but they are fixing it rapidly.

Jagannath
Jagannath

Either Jio, airtel or Vodafone

Aircel The No.1 Network of India
Aircel The No.1 Network of India

Switch to Aircel and experience the best network quality of India with best value plans.

Kaushik
Kaushik

LOL!!!! Aircel with it’s best quality 2G network in Mumbai?

Sandeep Bansal
Sandeep Bansal

Time to buy R Com’s share!!!

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