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Reliance Comm shares fall on December-quarter results

Source : REUTERS
Last Updated: Thu, Jan 24, 2013 10:00 hrs
A street vendor sells his goods beside a Reliance mobile phone store in Mumbai

MUMBAI (Reuters) - Shares in India's Reliance Communications Ltd fell as much as 10.2 percent on Thursday, after India's No.3 mobile phone carrier by customers posted its second consecutive quarterly decline in profit on Wednesday.

Consolidated net profit at the carrier, controlled by billionaire Anil Ambani, fell a sharper-than-expected 44 percent to 1.05 billion rupees for its fiscal third quarter ended December.

Reliance Communications shares were down 9.5 percent at 3:13 p.m. They earlier touched a low of 79.1 rupees.

(Reporting by Abhishek Vishnoi)



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