 "The earnings of Anil Ambani's Reliance Communications slumped after Reliance Jio offered free calls and data plans.")
Shares of Reliance Communications on Monday tumbled over 14 per cent after the company posted a consolidated loss of Rs 2,709 crore in the second quarter ended September.
The stock slumped 13.87 per cent to Rs 12.10 - its 52- week low - on the BSE.
At the NSE, it tanked 14.23 per cent to hit its one-year low of Rs 12.05.
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The company had registered a profit of Rs 62 crore in the same period a year ago.
This is the fourth straight quarter of loss for the company.
Total income of the firm declined by 48 per cent to Rs 2,667 crore in the reported quarter, from Rs 5,142 crore in the corresponding period of the previous fiscal.
RCom, which is on the verge of shutting its voice call service, witnessed a decline in revenue from its both India and global operations.
