Auditors of Anil Ambani-led Reliance Naval and Engineering have raised doubts about the company's ability to "continue as a going concern". For the full year 2017-18, it posted a net loss of Rs 956.09 crore as compared to a loss of Rs 523.43 crore in previous year. For 2017-18, the total income was lower at Rs 413.84 crore when compared with Rs 564.14 crore revenue in 2016-17 fiscal. Anil Ambani-led Reliance Group had in 2016 acquired controlling stake in Pipavav Defence and Offshore Engineering and renamed it Reliance Defence and Engineering. Last year, it renamed the firm to Reliance Naval and Engineering (RNEL).

Source: dna April 24, 2018 08:48 UTC