Reliance Communications shares slump 9% on Q2 loss


Mumbai: Reliance Communications Ltd shares fell more than 9% in early trade on Monday after the company reported a loss in the September quarter.

Shares in the company were trading at Rs12.80 by 9.29am, down 9.3%. They dropped to a low of Rs12.75 apiece earlier in the session.

Reliance Communications reported a loss after tax of Rs2,709 crore in the July-September quarter versus a profit of Rs62 crore in the same period a year ago.

Reliance Group companies have sued HT Media Ltd, Mint’s publisher, and nine others in the Bombay high court over a 2 October 2014 front-page story that they have disputed. HT Media is contesting the case.