January 29, 2018 / 12:58 PM / in 9 months

Indian telecoms firm RCom reports smaller Q3 loss

Jan 29 (Reuters) - Indian telecoms carrier Reliance Communications Ltd reported a narrower quarterly net loss of 1.30 billion rupees ($20.45 million) on Monday.

RCom is selling most of its wireless assets to carrier Reliance Jio Infocomm Ltd to raise funds to repay billions of dollars it owes to a clutch of banks.

The loss for the three months ended Dec. 31 was RCom’s fifth straight quarterly loss but smaller than the net loss of 5.31 billion rupees it reported a year earlier.

Revenue from operations fell 31.7 percent to 11.44 billion rupees.

$1 = 63.5725 Indian rupees Reporting by Tanvi Mehta in Bengaluru; editing by Himani Sarkar; editing by Jason Neely

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