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Reliance Communications slipped on the bourses in the morning trade today after the company’s consolidated net profit plunged sharply during the January-March quarter this fiscal.
The scrip fell to an early low of Rs 85.70 down 2.05 per cent from the previous close on the BSE, while on the NSE, it fell by 2.22 per cent to hit a low of Rs 85.60.
On the volume front, over 27 lakh shares of the company changed hands on the bourses within the first few minutes of trade.
RCom reported an 86 per cent dip in consolidated net profit to Rs 168.6 crore for the fourth quarter ended March 31, 2011 on the back of foreign exchange losses and an increase in interest outgo.
The company had registered a net profit of Rs 1,219.5 crore in the January-March quarter last fiscal.
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