RCOM records steep increase in profit due to one-time gain
Reliance Communications (RCOM) has recorded a steep increase in its profit for the quarter ended September 2018 on account of one-time gain from business structuring and non-provisioning of interest to be paid to lenders. The operator’s consolidated profit stood at Rs 11.41 billion during the quarter ended September 2018 as opposed to a loss of Rs 27.12 billion during the quarter ended September 2017.
Further, RCOM recorded a one-time exceptional gain of Rs 68.76 billion during the quarter ended September 2018 due to de-recognition of assets and liabilities pertaining to its real estate subsidiary Reliance Reality Limited (RRL).
Meanwhile, the consolidated income of the operator declined by about 12 per cent from Rs 11.52 billion during the quarter ended September 2017 to Rs 10.14 billion during the quarter ended September 2018.
- Most Viewed
- Most Rated
- Most Shared
- Related Articles
- tele.net announces the winners of the Telecom Operator Awards 2013
- tele.net to host a conference on "Energy Needs of The Telecom Sector: Needs and Requirements; Issues and Opportunities"
- Telecom Operator Awards 2011 acknowledge industry achievements
- Aircel and NEC launch cloud solutions services called Business Unplugged
- BSNL launches the Digital Mandi application
- Sunil Tolani, COO, Madhya Pradesh and Chhattisgarh, Idea Cellular
- Bharat Sanchar Nigam Limited: Attempts to reconnect
- Sanjoy Mukerji, Director, Business Operations, North and East India, Vodafone Essar
- Prateek Pashine, President, SME Operations, Tata Communications
- Idea Cellular launches 3G smartphones
- tele.net to host a conference on "Energy Needs of The Telecom Sector: Needs and Requirements; Issues and Opportunities"
- Smart Portal: Cleartrip deploys IT tools to enhance efficiency and user experience
- Uninor: Gaining relevance in the competitive Indian market
- Idea Cellular launches 3G smartphones
- Bharti airtel increases 3G services coverage in Himachal Pradesh
