Date:26/10/2004 URL: http://www.thehindubusinessline.com/2004/10/26/stories/2004102601530700.htm

Back Reliance Info trims Q2 loss to Rs 50 cr

Our Bureau

Mumbai , Oct. 25

RELIANCE Infocomm has reported a net loss of Rs 50 crore for the second quarter of the current fiscal, said Mr Anil Ambani, Managing Director of Reliance Industries, which owns 45 per cent stake in the company.

In the first quarter, the company had clocked a loss of Rs 125 crore. Mr Ambani said that the company would be in the black in the fourth quarter or sooner.

The net loss during the year ended March 31, 2004 had amounted to Rs 390 crore.

Reliance Infocomm is now completely independent of the parent company as far as additional funding requirements are concerned, with no investments having been made by Reliance Industries during the last six months.