RCom posts India’s second biggest loss at Rs 30,142 crore

New Delhi: Reliance Communications (RCom) posted a consolidated loss of Rs 30,142 crore for the fiscal second quarter, because of provisioning of liabilities owed to the government.

RCom’s loss is the second largest posted in corporate India, a day after Vodafone Idea’s July-September loss was the largest India Inc had seen at?50,921crore, for similar reasons. Bharti Airtel on Thursday also reported a loss of over ?23,000 crore due to provisions for the additional statutory dues. The bankrupt telecom company had posted a profit of Rs 1,141 crore in the same period last year and is undergoing insolvency process.

The company in a regulatory filing on Friday said that it had set aside Rs 28,314 crore on account of provisioning after a recent Supreme Court verdict on calculation of annual adjusted gross revenue (AGR) of telecom companies.


The mammoth losses are on the back of Supreme Court order of October 24, which backed the government stance of including non-core items in AGR.