These Indian companies have reported the highest ever quarterly losses
Updated : December 05, 2019 09:48 AM IST
Cash-strapped IL&FS on Wednesday reported a standalone net loss of Rs 22,527 crore for the fiscal to March 2019, one of the highest in the country.
IL&FS’ colossus loss isn’t even the biggest for the September quarter, indicating the state of an economy in which the gross domestic product (GDP) dropped to 4.5 percent in Q2, the weakest pace in more than six years.
Telecom sector has been going through a flux, with operators reporting humongous losses which forced them to increase tariffs in order to stem the rot.
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