Reliance Communications Ltd.’s (RCom) net loss for the December quarter widened to ₹238 crore, compared with a net loss of ₹130 crore in the year ago period, on higher expenses.
The loss was reported on 7.9% dip in its total income during the quarter to ₹1,083 crore from ₹1,176 crore in the year ago period.
Company’s EBIDTA during the quarter stood at ₹159 crore with EBIDTA margin of 14.7%.
RCom’s portfolio of B2B businesses comprises Indian enterprise, Internet Data Centers (IDC), global submarine cable network and international long distance voice with about 40,000 global and Indian customers.
Indian operations’ revenue and EBIDTA stood at ₹415 crore and ₹6 crore respectively, while global business contributed revenue and EBIDTA of ₹779 crore and ₹153 crore respectively, the company said in a statement.
RCom’s consolidated revenues for nine months ended December 31, 2018, is ₹3,105 crore and EBIDTA of ₹434 crore. The EBIDTA margin was at 14%.
RCom’s Indian operations’ revenue and EBIDTA stood at ₹1,333 crore and ₹42 crore respectively; while global business contributed revenue and EBIDTA of ₹2,070 crore and ₹392 crore respectively.
The company is in the process of selling its telecom assets to Mukesh Ambani-led Reliance Jio to reduce ₹25,000 crore of debts from its total outstanding debt of ₹45,000 crore.
However, the Department of Telecommunications is refusing to approve the deal as Reliance Jio refuses to accept any prior liabilities of RCom.
RCom did not provide for interest of ₹1,091 crore and foreign exchange variation and other related item amounting to ₹474 crore for the quarter, as the company is going through debt resolution process under the Insolvency and Bankruptcy Code.
“Had the company provided interest and foreign exchange variance, the loss would have been higher by ₹617 crore ...for the quarter,” the statement said.
