Latest News – Anil Ambani-led Reliance Communications Saturday reported consolidated net loss of Rs 531 crore for October-December 2016, mainly due to free 4G services being offered by his elder brother Mukesh Ambani’s Reliance Jio.
The company had posted net profit of Rs 303 crore in the same period a year ago.
“The company suffered a net loss of Rs 531 crore during the quarter primarily on account of… Unprecedented competitive intensity. This was the first full quarter after the company’s complete shutdown of its profitable CDMA operations,” RCom said in a statement.
Reliance Jio launched its (Read More)