Reliance Communications Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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Reliance Communications (RCOM), which has been under Corporate Insolvency Resolution Process (CIRP) since June 2019 with Resolution Professional Anish Nanavaty in control, filed its Q1 FY26 results. Revenue from operations fell to Rs 61 crore from Rs 75 crore in the year-ago quarter, a decline of nearly 19%. The company reported a standalone loss of Rs 41 crore from continuing operations and a much larger loss of Rs 2,176 crore from discontinued operations, totalling Rs 2,217 crore for the quarter. The auditor, Pathak H.D. & Associates LLP, issued a qualified review report flagging multiple issues: non-provision of interest of Rs 1,164 crore and forex loss of Rs 57 crore for the quarter, unresolved assets held for sale valuation, forensic audit findings from BDO India LLP, unauthorised transactions by a former director of subsidiary Bonn Investment, and non-adoption of Ind AS 116. The auditor explicitly stated that a material uncertainty exists regarding the company's ability to continue as a going concern.
This is a deeply negative filing for shareholders. The company is in prolonged insolvency, revenues are shrinking, losses are massive, and the auditor has raised serious going-concern doubts and multiple qualifications. The stock remains highly speculative with significant risk of value erosion depending on NCLT and Supreme Court outcomes.