Reliance Communications—promoted by Anil Ambani—had registered net profit of Rs79 crore in the corresponding period of the previous year, as per a regulatory filing. Photo: Hemant Mishra/MintNew Delhi: Telecom player Reliance Communications on Saturday reported loss of Rs948 crore for the fourth quarter ended March 2017, hurt by intense price war unleashed by newcomer Jio. Reliance Communications—promoted by Anil Ambani—had registered net profit of Rs79 crore in the corresponding period of the previous year, as per a regulatory filing. For the full year 2016-17, the loss stood at Rs1,283 crore against net profit of Rs660 crore in 2015-16. Overall, Reliance Communications expects debt to reduce by Rs25,000 crore on completion of the transactions during this financial year.

Source: Mint May 27, 2017 17:03 UTC