Friday, 17 November, 2017

RCap Q2 net rises 39% to Rs 352 cr on strong profit

Reliance Infrastructure's Net Profit Dips 5% RCom shares slump after fourth straight quarterly loss
Kristine Garrett | 14 November, 2017, 21:09

The company said it received a tremendous response from investors in listing of Reliance Nippon Life Asset Management and Reliance General Insurance is on track to be listed by March 2018. The same day, it also said that it had missed interest payments on two domestic NCD issues.

The billionaire Anil Ambani-controlled telecom operator on Saturday said its net loss widened to 27.09 billion rupees ($414.95 million), compared with a profit of 620 million rupees a year ago. Its overseas bonds also dipped, with RCom's 6.5% bonds due 2020 indicated at 35/37 cents on the dollar.

Reliance Communications Ltd is now trading at Rs 11.7, down by Rs 0.45 or 3.7% from its previous closing of Rs 12.15 on the BSE.

Shares of Reliance Communications on Monday plummeted 13.5 percent after the company posted a consolidated loss of Rs 2,709 crore in the second quarter ended September. The scrip opened at Rs 12 and has touched a high and low of Rs 12.4 and Rs 11.35 respectively.

For the quarter ended September 30, 2017, Reliance General Insurance's Gross Written Premium was Rs 1,688 crore logging a growth of 16 per cent over a corresponding period of the previous year.

Debt-laden telecom operator Reliance Communications on Saturday reported a consolidated loss of Rs 2,709 crore in the second quarter to September 2017.

Reliance Nippon Life Asset Management Ltd is now trading at Rs 271.3, down by Rs 14.65 or 5.12% from its previous closing of Rs 285.95 on the BSE.

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