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Lack of brotherly love leaves RCom circling the drain

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Johnny Huff
Nov 14, 2017 11:52
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Reliance Jio is flying high, its quarterly report implies Reliance Communications is dying a slow and painful death.

Total revenues for the quarter stood at roughly $407 million, compared to $768 million in the same period for 2016.

Reliance Communications also lost $431 million this quarter, compared to a profit of roughly $9 million in 2016.

This makes for a company which is in a lot of trouble; when the loss column is larger than the total revenue column, you have to start wondering what the point is.

Some might argue the profit didn’t come from a solid market performance, but creative accountants, therefore there was no foundation for the company to mount a defence against an aggressive disruptor.

And just to add fuel to the flames, the team has also said it has missed two bond repayments in recent weeks.

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Johnny Huff
Nov 14, 2017 11:52
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