Reliance Communication reports smaller loss of Rs 342 crore in first quarter
Updated : July 18, 2018 09:12 PM IST
It reported a loss of Rs 342 crore ($34 million) for April to June on Wednesday, saying lower expenses in terms of access charges and licensing fees had helped reduce losses.
RCom, controlled by businessman Anil Ambani, is due to sell Rs 181 crore of assets to Reliance Jio Infocomm and Canada's Brookfield, which will trim its huge debt pile.
RCom owed banks $7 billion as of March 2017 when it last made public its debt level, and more to vendors.