The telecom sector’s woes continued to deepen after the Anil Ambani-led Reliance Communications posted Rs 2,733 crore in pre-tax loss for the June-September quarter and Rs 30,147 crore in net loss for the same period, after accounting for adjusted gross revenue (AGR) provisions.
The company had reported Rs 338 crore in losses for the June quarter (Q1), and a profit of Rs 1,295 crore in Q2 last year. It reported Rs 305 crore in revenue, down from Rs 866 crore in Q1.