Reliance Communications reported a sharper-than-forecast 37% fall in quarterly profit, its eighth straight quarter of profit drop, as the country's No 2 mobile carrier by subscribers struggles with its bruising debt load.
Reliance Comm, controlled by billionaire Anil Ambani, said consolidated net profit fell to Rs 157 crore (USD 35 million) for its fiscal first quarter ended June, from Rs 250 crore reported a year earlier.
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