On Monday, Reliance Communication, undergoing insolvency proceedings, reported March ended results with a consolidated net loss at Rs. 7767 crore. In the same period, a year ago, the telecom company reported a loss figure of Rs. 19,776 crore.
Total income at the company however increased for the quarter ended March and came in at Rs 1,089 crore. For FY'19, the company's overall net loss stood at Rs. 7,206 crore versus Rs. 23,839 in FY 2018.
Further, the company has not taken into account the interest and foreign exchange variance, considering which RCom's loss would have gone higher by Rs. 788 crore and Rs. 4,710 crore for the quarter and year ended March 31, 2019, respectively.
Earlier in the month, NCLT admitted the telecommunications company for an insolvency case. Following which it becomes the first Anil Ambani owned company that has been declared bankrupt with a debt of Rs. 50,000 crore.
Post the Q4 earnings result, the stock of RCom at around 9:40 am was trading at Rs. 2.05.