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.