iWorld
Reliance Communications comprehensive loses amount to Rs 2,068 crore in Q3
MUMBAI: Reliance Communications Ltd (RCom.), once a dominant force in the Indian telecom sector, continues its painful spiral into financial oblivion. The latest Q3 FY25 results make for grim reading, with deepening losses, shrinking revenues, and an insolvency process that looks more like a never-ending courtroom drama. The company, under corporate insolvency resolution since 2019, posted a staggering net loss of Rs 2,068 crore for the quarter ending 31 December 2024, further extending its financial nightmare.
But is there a miracle in sight? Or is RCom. doomed to be a cautionary tale in corporate history?
Standalone Results
RCom.’s revenue from operations in Q3 FY25 stood at Rs 65 crore, marginally slipping from Rs 66 crore in the previous quarter. Compared to Rs 71 crore in the same period last year, the company seems to be on a never-ending treadmill-moving, but going nowhere. The nine-month revenue isn’t offering much comfort either, standing at Rs 206 crore, a dip from Rs 220 crore in FY24. With operations at a standstill and no meaningful revenue streams, RCom.’s survival depends on asset monetisation. However, that process has been moving at the pace of a turtle on vacation.
Consolidated Results
RCom.’s financials for Q3 reveal a disaster unfolding in slow motion. If numbers could scream, these would be deafening.
RCom.’s profit after tax (PAT) might as well be renamed loss after tax, as it posted a net loss of Rs 2323 crore for Q3 and a whopping Rs 6779 crore for the nine-month period. The losses are on autopilot, and there’s no emergency landing in sight. The EBITDA situation? Let’s just say it stands for “Empty Bucket DA”. There’s no sign of improvement, and the company continues to hemorrhage cash.
Revenue from operations came in at Rs 87 crore for Q3, which, in telecom terms, is barely enough to keep the call centers running. The nine-month revenue stands at Rs 272 crore, proving that RCom.’s once-mighty earnings have taken a permanent vacation.
If you’re an RCom. shareholder, consider looking away. The earnings per share (EPS) before exceptional items was (Rs 8.67) per share for Q3 and (Rs 25.10) per share for the nine-month period. After exceptional items? Let’s not even go there.
To top it all off, the comprehensive loss for Q3 stood at Rs 2,373 crore, ballooning to Rs 6,878 crore for the nine-month period-because apparently, one kind of loss just wasn’t enough.
The financial report reads less like a balance sheet and more like a horror novel. With no operational revenue and a debt mountain that refuses to shrink, the road ahead is looking rockier than ever.
Discontinued Operations
RCom.’s discontinued operations, including its wireless spectrum, towers, fibre, and media convergence nodes, continue to be the financial equivalent of quicksand. Despite being classified as “held for sale” since 2018, these assets remain unsold, haunting the company’s balance sheet like a ghost that refuses to be exorcised.
The real horror story lies in the discontinued operations segment, where the company booked a massive provision of Rs 1,840 crore towards license and spectrum fees, sending the total net loss soaring to Rs 2,068 crore. For the nine-month period, RCom.’s total losses ballooned to Rs 6,012 crore, with discontinued operations contributing Rs 5,874 crore in losses. If you’re looking for signs of improvement, well, there aren’t any-the loss for the same period last year was Rs 6,232 crore.
The segment’s revenue was a pathetic Rs 3 crore, against expenses of Rs 160 crore, leading to a Rs 156 crore loss. Making matters worse, the company has not accounted for interest on loans amounting to Rs 1,327 crore for Q3, further distorting its actual financial position.
Debt and Insolvency
RCom.’s financial position is about as stable as a house of cards in a hurricane. The company has defaulted on both interest and principal payments for years. Its total debts now exceed total assets, with a debt-to-assets ratio of 1.02. Net worth? Completely wiped out, standing at a shocking negative Rs 68,490 crore as of December 31, 2024.
The insolvency resolution process remains stuck in legal limbo, with creditors desperately waiting for some sort of recovery. But with Supreme Court and NCLT hearings stretching on indefinitely, they might be waiting for a long, long time.
Segment-wise performance
. Telecom services: With just Rs 65 crore in revenue, the core business has all but collapsed. The segment continues to operate at a loss, and there’s no revival plan in sight.
. Infrastructure and enterprise solutions: This segment is in hibernation mode, waiting for the insolvency proceedings to play out.
. Discontinued operations: The spectrum, towers, and fibre assets remain stranded, with no buyers in sight, making them a financial black hole.
With no revenue growth, no operational revival, and mounting liabilities, RCom.’s future looks about as promising as a sinking ship without a lifeboat. The resolution process remains entangled in legal battles, and the much-needed asset sales haven’t made any progress. Creditors are frustrated, and shareholders have zero hope of recovery.
Unless a miraculous acquisition or restructuring deal materialises, RCom. is likely to become a footnote in India’s corporate history-a grim reminder of how unchecked expansion, debt mismanagement, and regulatory battles can sink even the biggest players.
iWorld
Subedaar puts Indian original cinema on the global map with record-breaking Prime Video debut
MUMBAI: Prime Video has a runaway hit on its hands. Subedaar, the gritty action drama starring Anil Kapoor, has stormed to become the most-watched Indian original movie on the platform in its opening weekend, cracking the Top 10 across 31 countries and landing in 91 per cent of India’s pin codes within days of its March 5 premiere.
The film, a visceral, emotionally-charged story of a retired soldier, Subedaar Arjun Maurya, wrestling with civilian life amid crime and corruption, has struck a nerve. Directed by Suresh Triveni and co-starring Radhikka Madan, Mona Singh, Saurabh Shukla, Aditya Rawal, Faisal Malik, and Khushboo Sundar, the film is already being hailed as a showcase for what Indian original storytelling can achieve on the world stage.
“Subedaar’s success is a reflection of the growing scale and global resonance of Indian storytelling,” said Nikhil Madhok, director and head of originals at Prime Video India. “The film’s emotional narrative, its rooted portrayal of a soldier confronting his toughest battles beyond the battlefield, has struck a chord. Anil Kapoor delivers an acting masterclass, while Suresh Triveni’s solid direction and great performances from the ensemble cast have resulted in love and appreciation from customers across the world.”
Kapoor, 62, has been here before, but rarely at this altitude. Written by Triveni and Prajwal Chandrashekar, with dialogues by Triveni, Saurabh Dwivedi, and Chandrashekar, the film is a production by Opening Image Films in association with Anil Kapoor Film & Communication Network (AKFCN), produced by Vikram Malhotra, Kapoor, and Triveni.
Subedaar streams exclusively on Prime Video in Hindi, Tamil, and Telugu across India, and in over 240 countries and territories worldwide.
For Prime Video, the numbers tell the real story: one weekend, one film, a global footprint, and a very loud signal that Indian original cinema is no longer just travelling well. It’s arriving.
