RCom down nearly 6% in early trade
Mumbai: Shares of Reliance Communications Thursday declined by nearly 6 percent, after the company reported 43.5 percent fall in consolidated net profit for the October-December quarter.
After a weak opening, shares of the company dropped further by 5.78 percent to trade at Rs 83 on the BSE.
At NSE, RCom was down 5 percent at Rs 83.60.
Reliance Communications yesterday reported 43.5 percent decline in consolidated net profit at Rs 105 crore due to refinancing of debt during the third quarter ended December 31, 2012.
RCom, however, reported standalone net profit of Rs 110 crore during the reported quarter against net loss of Rs 277 crore it registered for the same period a year ago.
Dip in the stock was in sync with an overall weak stock market with the BSE benchmark Sensex trading down 110.75 points at 19,915.86 at 1017 hrs.