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Reliance Comm dips 2% post poor results
Reliance Communications touched an intraday high of Rs 92.90 and an intraday low of Rs 90.70. At 09:36 hrs the share was quoting at Rs 91.75, down Rs 2.20, or 2.34%.
Reliance Communications reported a 61% fall in quarterly profit -- its 10th straight quarter of declining profit -- as the country's second-biggest mobile phone operator by subscribers struggles with its heavy debt load.
Reliance Communications, controlled by billionaire Anil Ambani, said consolidated net profit fell to Rs 186 crore for its fiscal third quarter ended December from Rs 480 crore a year earlier.
Analysts in a Reuters poll of brokerages had, on average, expected net profit of Rs 195 crore for the company, which had more than 150 million mobile customers as of December.
Reliance Communications touched an intraday high of Rs 92.90 and an intraday low of Rs 90.70. At 09:36 hrs the share was quoting at Rs 91.75, down Rs 2.20, or 2.34%.
It was trading with volumes of 410,639 shares. In the previous trading session, the share closed down 1.16% or Rs 1.10 at Rs 93.95.
