RCom's net profit plunges 80% to ₹39 crore
Reliance Communications (RCom) has reported an 80% decline in net profit at ₹39 crore for the second quarter, due to an increase in spectrum charges and finance cost. Competition, migration of CDMA customers to 4G LTE, and seasonality pulled its revenues 3% lower to ₹5,090 crore during the quarter. RCom's total debt stood at over ₹50,000 crore on September 30.