RCom posts a consolidated loss of Rs 7,964 crore

Reliance Communications (RCom) widened its loss to Rs 7,963 crore for the January to March quarter when compared to the previous quarter where it posted a loss of Rs 340 crore . The Anil Ambani owned telecom operator under the reins of interim resolution professional is unsure if it can continue under the burden of losses and liabilities.

“…since the Company continues to incur loss, current liabilities exceed current assets and Company has defaulted in repayment of borrowings, payment of regulatory and statutory dues, these events indicate that material uncertainty exists that may cast significant doubt on Company’s ability to continue as a going concern,” said the company in a regulatory filing on Monday evening.

The telco had posted a loss of Rs 19827 crore during the same period last year.